CIBC Asset Management Inc Sells 2,353 Shares of NIKE, Inc. (NYSE:NKE)

CIBC Asset Management Inc lessened its stake in NIKE, Inc. (NYSE:NKE) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 182,967 shares of the footwear maker’s stock after selling 2,353 shares during the period. CIBC Asset Management Inc’s holdings in NIKE were worth $13,845,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE in the third quarter valued at approximately $30,000. Roxbury Financial LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, Dunhill Financial LLC lifted its holdings in shares of NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $77.54 on Wednesday. The stock has a market cap of $114.70 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a fifty day moving average of $74.37 and a 200-day moving average of $78.04.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is 49.38%.

Insider Activity at NIKE

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Robert W. Baird dropped their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada decreased their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Barclays decreased their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Thursday, February 6th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.62.

About NIKE

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.