NIKE, Inc. (NYSE:NKE) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 21.0% in the first quarter, Holdings Channel.com reports. The fund owned 5,060 shares of the footwear maker’s stock after selling 1,343 shares during the quarter. Sky Investment Group LLC’s holdings in NIKE were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA increased its holdings 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 valued at $30,000 after purchasing an additional 210 shares during the last quarter. Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. Finally, EnRich Financial Partners LLC increased its holdings in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.5%

Shares of NYSE NKE opened at $62.81 on Friday. The company has a market capitalization of $92.90 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a 50-day moving average of $59.23 and a two-hundred day moving average of $68.85. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is currently 53.16%.

Analyst Ratings Changes

Several research firms recently commented on NKE. Bank of America cut their price target on NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, April 25th. China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price target on NIKE from $88.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.26.

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.