SevenBridge Financial Group LLC Sells 2,874 Shares of NIKE, Inc. (NYSE:NKE)

SevenBridge Financial Group LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,524 shares of the footwear maker’s stock after selling 2,874 shares during the period. SevenBridge Financial Group LLC’s holdings in NIKE were worth $1,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Caitlin John LLC lifted its stake in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new position in NIKE in the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA grew its position 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 purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in shares of NIKE in the fourth quarter worth $30,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $64.78 on Wednesday. NIKE, Inc. has a 1 year low of $62.65 and a 1 year high of $98.04. The firm’s 50-day moving average is $73.84 and its 200 day moving average is $76.72. The stock has a market cap of $95.81 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 annualized dividend and a dividend yield of 2.47%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Wells Fargo & Company dropped their target price on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Morgan Stanley decreased their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $87.38.

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.