Norden Group LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Norden Group LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,335 shares of the footwear maker’s stock after selling 3,073 shares during the quarter. Norden Group LLC’s holdings in NIKE were worth $1,773,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. FMR LLC lifted its stake in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the period. Northern Trust Corp raised its holdings in shares of NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after purchasing an additional 674,198 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in NIKE by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock valued at $766,829,000 after purchasing an additional 89,947 shares during the period. Newport Trust Company LLC purchased a new stake in NIKE in the third quarter valued at $679,775,000. Finally, Massachusetts Financial Services Co. MA grew its position in NIKE by 37.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after purchasing an additional 1,583,541 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NKE. Sanford C. Bernstein reduced their price objective on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Wells Fargo & Company decreased their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. HSBC decreased their price objective on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. TheStreet cut NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Finally, Telsey Advisory Group cut their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Down 1.3 %

Shares of NKE traded down $1.18 during midday trading on Tuesday, reaching $92.88. The company had a trading volume of 2,756,032 shares, compared to its average volume of 9,294,005. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $96.78 and a 200-day simple moving average of $103.33. The stock has a market cap of $140.19 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is presently 43.53%.

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.