Forte Capital LLC ADV Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Forte Capital LLC ADV cut its holdings in NIKE, Inc. (NYSE:NKE) by 12.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,000 shares of the footwear maker’s stock after selling 3,650 shares during the quarter. Forte Capital LLC ADV’s holdings in NIKE were worth $1,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flossbach Von Storch SE lifted its holdings in NIKE by 1.0% in the 4th quarter. Flossbach Von Storch SE now owns 8,298,072 shares of the footwear maker’s stock valued at $627,915,000 after purchasing an additional 85,695 shares in the last quarter. Hardy Reed LLC purchased a new position in NIKE in the 4th quarter valued at about $248,000. Meitav Investment House Ltd. lifted its holdings in NIKE by 10.0% in the 4th quarter. Meitav Investment House Ltd. now owns 595,060 shares of the footwear maker’s stock valued at $45,001,000 after purchasing an additional 54,095 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in NIKE by 0.9% in the 4th quarter. Handelsbanken Fonder AB now owns 528,938 shares of the footwear maker’s stock valued at $40,025,000 after purchasing an additional 4,793 shares in the last quarter. Finally, Bryn Mawr Capital Management LLC lifted its holdings in NIKE by 207.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 140,780 shares of the footwear maker’s stock valued at $10,653,000 after purchasing an additional 95,020 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock opened at $77.19 on Friday. The stock has a market cap of $114.17 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 2.53 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $74.33 and a 200-day moving average of $78.05. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $106.62.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 EPS. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. TD Cowen dropped their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Finally, Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Fifteen equities 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.62.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly 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 legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.