Folger Nolan Fleming Douglas Capital Management Inc. Sells 529 Shares of NIKE, Inc. (NYSE:NKE)

Folger Nolan Fleming Douglas Capital Management Inc. cut its position in NIKE, Inc. (NYSE:NKE) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,686 shares of the footwear maker’s stock after selling 529 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in NIKE were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Brooklyn Investment Group increased its position in shares of NIKE by 28.5% during the fourth quarter. Brooklyn Investment Group now owns 5,092 shares of the footwear maker’s stock worth $385,000 after acquiring an additional 1,130 shares in the last quarter. Somerset Trust Co increased its holdings in NIKE by 5.7% during the 4th quarter. Somerset Trust Co now owns 21,474 shares of the footwear maker’s stock worth $1,625,000 after purchasing an additional 1,159 shares in the last quarter. Chemistry Wealth Management LLC lifted its holdings in shares of NIKE by 4.0% in the fourth quarter. Chemistry Wealth Management LLC now owns 39,692 shares of the footwear maker’s stock valued at $3,003,000 after purchasing an additional 1,539 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in shares of NIKE by 16.4% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 2,953 shares of the footwear maker’s stock worth $223,000 after buying an additional 416 shares during the period. Finally, Avanza Fonder AB bought a new position in shares of NIKE during the fourth quarter worth about $9,019,000. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.3 %

NYSE NKE opened at $70.89 on Friday. The company has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $75.87 and its 200 day moving average is $77.96.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Guggenheim cut their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Jefferies Financial Group raised their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of NIKE in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

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.