NIKE, Inc. (NYSE:NKE) Stake Reduced by Woodline Partners LP

Woodline Partners LP decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 84.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 67,308 shares of the footwear maker’s stock after selling 376,723 shares during the period. Woodline Partners LP’s holdings in NIKE were worth $5,093,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NKE. Caitlin John LLC lifted its stake in NIKE by 117.0% during 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 during the last quarter. Heck Capital Advisors LLC acquired a new position in NIKE in the 4th quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new stake in NIKE during the fourth quarter valued at $30,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE in the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 2.1%

Shares of NKE opened at $60.02 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $88.78 billion, a PE ratio of 18.52, a PEG ratio of 2.52 and a beta of 1.23. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The stock has a 50 day simple moving average of $59.88 and a 200-day simple moving average of $70.18.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The business’s revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. NIKE’s dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. China Renaissance initiated coverage on NIKE in a report on Wednesday, March 19th. They set a “hold” rating on the stock. Barclays decreased their price target on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Wells Fargo & Company boosted their price objective on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Finally, Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 17th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $80.26.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is 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.