Woodmont Investment Counsel LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Woodmont Investment Counsel LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,932 shares of the footwear maker’s stock after selling 895 shares during the period. Woodmont Investment Counsel LLC’s holdings in NIKE were worth $2,038,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NKE. Pacer Advisors Inc. lifted its position in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp increased its stake in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of NIKE during the fourth quarter valued at about $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays lowered their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. UBS Group lowered their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price on shares of NIKE in a report on Monday, March 17th. Finally, Needham & Company LLC reduced their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 17th. 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 data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the 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 directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE opened at $68.02 on Monday. The company has a market capitalization of $100.60 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12 month low of $65.17 and a 12 month high of $98.04. The firm’s 50-day moving average is $74.70 and its 200 day moving average is $77.40. 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 issued 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. The business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. Research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.35%. NIKE’s dividend payout ratio is currently 53.16%.

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.