Arlington Partners LLC Lowers Position in NIKE, Inc. (NYSE:NKE)

Arlington Partners LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 62.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,410 shares of the footwear maker’s stock after selling 30,775 shares during the quarter. Arlington Partners LLC’s holdings in NIKE were worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter worth about $28,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at about $30,000. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Dunhill Financial LLC lifted its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday. Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Morgan Stanley reduced their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Finally, Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

NIKE Stock Down 4.3 %

NIKE stock opened at $68.69 on Monday. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.43. The business’s 50-day moving average price is $75.12 and its 200 day moving average price is $78.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its 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 analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.03 earnings per share. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.33%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.

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.