New York Life Investment Management LLC Decreases Stake in NIKE, Inc. (NYSE:NKE)

New York Life Investment Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,962 shares of the footwear maker’s stock after selling 666 shares during the period. New York Life Investment Management LLC’s holdings in NIKE were worth $13,769,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NKE. Range Financial Group LLC purchased a new stake in NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE during the 4th quarter valued at about $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the fourth quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its position in NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

NKE stock opened at $79.86 on Friday. The business’s 50-day moving average is $74.59 and its two-hundred day moving average is $78.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $118.13 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $105.57.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $1.03 EPS. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NKE shares. Barclays cut their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Wells Fargo & Company cut their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $115.00 in a report on Monday. Finally, TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.