Northstar Investment Advisors LLC trimmed its position in shares of Nike Inc (NYSE:NKE) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,738 shares of the footwear maker’s stock after selling 136 shares during the quarter. Northstar Investment Advisors LLC’s holdings in Nike were worth $1,463,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. BDO Wealth Advisors LLC lifted its position in Nike by 1,044.3% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after acquiring an additional 1,274 shares in the last quarter. Resources Management Corp CT ADV bought a new stake in Nike during the 3rd quarter worth about $113,000. Stelac Advisory Services LLC bought a new stake in Nike during the 3rd quarter worth about $115,000. Highwater Wealth Management LLC bought a new stake in Nike during the 4th quarter worth about $116,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in Nike during the 3rd quarter worth about $119,000. 63.99% of the stock is currently owned by institutional investors.
NKE traded down $0.12 on Friday, reaching $76.30. The company had a trading volume of 45,839 shares, compared to its average volume of 8,586,630. Nike Inc has a fifty-two week low of $62.09 and a fifty-two week high of $86.04. The firm has a market cap of $121.63 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.15%. This is an increase from Nike’s previous quarterly dividend of $0.20. Nike’s payout ratio is currently 36.36%.
NKE has been the topic of several analyst reports. Morgan Stanley set a $88.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Canaccord Genuity set a $95.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Piper Jaffray Companies set a $93.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Monday, September 17th. Goldman Sachs Group set a $81.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, September 20th. Finally, Guggenheim boosted their price target on shares of Nike to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 20th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $83.14.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $124,361,745.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the sale, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
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Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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