Harbour Investments Inc. Trims Position in NIKE, Inc. (NYSE:NKE)

Harbour Investments Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,567 shares of the footwear maker’s stock after selling 1,182 shares during the quarter. Harbour Investments Inc.’s holdings in NIKE were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Range Financial Group LLC acquired a new position in shares of NIKE during the fourth quarter worth about $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE during the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares during the period. 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 institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased 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 $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Down 5.4 %

NYSE NKE opened at $68.02 on Friday. 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 company’s 50 day simple moving average is $74.70 and its 200 day simple moving average is $77.46. NIKE, Inc. has a 12 month low of $65.17 and a 12 month high of $98.04. The company has a market capitalization of $100.60 billion, a P/E ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.35%. NIKE’s payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Jefferies Financial Group raised shares of 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 research note on Monday, February 24th. Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Robert W. Baird dropped their target price on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday. Stifel Nicolaus dropped their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, BMO Capital Markets decreased their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $87.38.

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.