Choreo LLC Has $1.80 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Choreo LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 3.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,881 shares of the footwear maker’s stock after selling 901 shares during the period. Choreo LLC’s holdings in NIKE were worth $1,801,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NKE. Hexagon Capital Partners LLC raised its position in NIKE by 35.4% during the third quarter. Hexagon Capital Partners LLC now owns 3,196 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 835 shares in the last quarter. Agate Pass Investment Management LLC raised its position in NIKE by 53.2% during the third quarter. Agate Pass Investment Management LLC now owns 18,295 shares of the footwear maker’s stock valued at $1,617,000 after purchasing an additional 6,356 shares in the last quarter. Private Advisory Group LLC raised its position in NIKE by 2.1% during the third quarter. Private Advisory Group LLC now owns 11,671 shares of the footwear maker’s stock valued at $1,032,000 after purchasing an additional 244 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new position in NIKE during the third quarter valued at approximately $201,000. Finally, DLK Investment Management LLC grew its stake in shares of NIKE by 5.9% during the third quarter. DLK Investment Management LLC now owns 50,365 shares of the footwear maker’s stock worth $4,452,000 after buying an additional 2,806 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE opened at $68.69 on Friday. The firm’s 50-day moving average price is $75.32 and its 200-day moving average price is $78.05. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.43. The firm has a market capitalization of $101.60 billion, a P/E ratio of 21.20, a P/E/G ratio of 2.50 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

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 the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKE. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $102.00 to $72.00 in a research note on Friday. Wells Fargo & Company decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Company 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.