Gotham Asset Management LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Gotham Asset Management LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 40.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,984 shares of the footwear maker’s stock after selling 68,096 shares during the period. Gotham Asset Management LLC’s holdings in NIKE were worth $7,717,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Caitlin John LLC increased its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter valued at $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA boosted its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in NIKE in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Robert W. Baird reduced their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. Guggenheim restated a “buy” rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. China Renaissance started coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company downgraded NIKE from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $75.00 to $55.00 in a research report on Wednesday, April 30th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

NIKE Price Performance

NKE stock opened at $62.63 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $92.64 billion, a P/E ratio of 19.33, a PEG ratio of 2.52 and a beta of 1.23. The business has a 50 day simple moving average of $62.22 and a 200-day simple moving average of $71.08. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 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 company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business posted $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.