Stablepoint Partners LLC Sells 7,517 Shares of NIKE, Inc. (NYSE:NKE)

Stablepoint Partners LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 60.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,860 shares of the footwear maker’s stock after selling 7,517 shares during the period. Stablepoint Partners LLC’s holdings in NIKE were worth $368,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dark Forest Capital Management LP purchased a new stake in shares of NIKE during the second quarter worth about $333,000. The Manufacturers Life Insurance Company boosted its position in shares of NIKE by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 841,006 shares of the footwear maker’s stock worth $63,409,000 after acquiring an additional 4,347 shares during the last quarter. Kathmere Capital Management LLC grew its stake in NIKE by 60.5% during the second quarter. Kathmere Capital Management LLC now owns 5,403 shares of the footwear maker’s stock valued at $407,000 after acquiring an additional 2,037 shares in the last quarter. Aviso Wealth Management increased its holdings in NIKE by 55.6% in the 2nd quarter. Aviso Wealth Management now owns 5,108 shares of the footwear maker’s stock valued at $385,000 after acquiring an additional 1,825 shares during the last quarter. Finally, Creative Planning lifted its stake in NIKE by 7.1% in the 2nd quarter. Creative Planning now owns 547,242 shares of the footwear maker’s stock worth $41,246,000 after purchasing an additional 36,290 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI cut their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Jefferies Financial Group lifted their target price on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.96.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Down 0.9 %

Shares of NYSE NKE opened at $73.60 on Monday. The firm has a 50 day moving average price of $75.45 and a 200 day moving average price of $77.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $108.86 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.17%. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.