Choreo LLC Sells 901 Shares of NIKE, Inc. (NYSE:NKE)

Choreo LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.6% in the fourth quarter, Holdings Channel reports. The fund owned 23,881 shares of the footwear maker’s stock after selling 901 shares during the quarter. Choreo LLC’s holdings in NIKE were worth $1,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter worth approximately $30,000. Heck Capital Advisors LLC purchased a new stake in NIKE in the 4th quarter worth approximately $28,000. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC lifted its stake in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Finally, Riverview Trust Co purchased a new stake in NIKE in the 3rd quarter worth approximately $52,000. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NKE. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Telsey Advisory Group reiterated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Thursday. Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Bank of America lowered their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given 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 $88.62.

NIKE Price Performance

Shares of NIKE stock opened at $68.69 on Friday. The firm has a market cap of $101.60 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-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 company’s fifty day simple moving average is $75.32 and its two-hundred day simple moving average is $78.05.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.33%. 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 dividend payout ratio (DPR) is 49.38%.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.