Chapin Davis Inc. Sells 1,471 Shares of NIKE, Inc. (NYSE:NKE)

Chapin Davis Inc. lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,959 shares of the footwear maker’s stock after selling 1,471 shares during the quarter. Chapin Davis Inc.’s holdings in NIKE were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in shares of NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after buying an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC boosted its holdings in NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock valued at $23,458,000 after acquiring an additional 90,000 shares during the period. Janus Henderson Group PLC grew its position in shares of NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock valued at $460,160,000 after purchasing an additional 463,470 shares during the last quarter. Markel Group Inc. increased its stake in shares of NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker’s stock worth $32,720,000 after purchasing an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC boosted its stake in NIKE by 3.3% during the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker’s stock valued at $18,042,000 after purchasing an additional 7,536 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Needham & Company LLC dropped their price target on NIKE from $75.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, June 18th. Citigroup dropped their target price on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Royal Bank Of Canada decreased their price target on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research report on Friday, May 23rd. Sixteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $78.74.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Stock Performance

NKE opened at $59.78 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The business has a fifty day simple moving average of $59.78 and a 200 day simple moving average of $67.95. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a market capitalization of $88.41 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter 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. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 2.68%. NIKE’s payout ratio is 53.16%.

About NIKE

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.