HighPoint Advisor Group LLC Reduces Stake in NIKE, Inc. (NYSE:NKE)

HighPoint Advisor Group LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,322 shares of the footwear maker’s stock after selling 853 shares during the period. HighPoint Advisor Group LLC’s holdings in NIKE were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Heck Capital Advisors LLC bought a new stake in NIKE in the fourth quarter worth $28,000. Caitlin John LLC lifted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter worth about $30,000. LFA Lugano Financial Advisors SA grew its holdings in 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 purchasing an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter worth about $30,000. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated 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 $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NKE opened at $64.78 on Wednesday. The company has a market cap of $95.81 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $73.84 and its 200-day moving average price is $76.72. NIKE, Inc. has a 52-week low of $62.65 and a 52-week high of $98.04.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $11.02 billion. During the same quarter in the prior year, the business posted $0.98 EPS. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.47%. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They set a “hold” rating on the stock. UBS Group reduced their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Stifel Nicolaus decreased their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.