Signaturefd LLC Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Signaturefd LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 2.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,743 shares of the footwear maker’s stock after selling 451 shares during the quarter. Signaturefd LLC’s holdings in NIKE were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Cibc World Markets Corp lifted its holdings in shares of NIKE by 7.2% in the 4th quarter. Cibc World Markets Corp now owns 330,606 shares of the footwear maker’s stock worth $25,017,000 after buying an additional 22,338 shares during the period. Arbor Capital Management Inc. ADV lifted its holdings in shares of NIKE by 2.3% in the 4th quarter. Arbor Capital Management Inc. ADV now owns 15,275 shares of the footwear maker’s stock worth $1,169,000 after buying an additional 348 shares during the period. IMG Wealth Management Inc. purchased a new stake in shares of NIKE in the 4th quarter worth $46,000. Nicholas Company Inc. lifted its holdings in shares of NIKE by 9.3% in the 4th quarter. Nicholas Company Inc. now owns 74,267 shares of the footwear maker’s stock worth $5,620,000 after buying an additional 6,297 shares during the period. Finally, Glenview Trust co lifted its holdings in shares of NIKE by 300.4% in the 4th quarter. Glenview Trust co now owns 99,050 shares of the footwear maker’s stock worth $7,495,000 after buying an additional 74,310 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 0.6 %

Shares of NKE stock opened at $73.28 on Wednesday. The stock has a 50 day moving average of $74.73 and a 200 day moving average of $77.64. 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 market cap of $108.38 billion, a P/E ratio of 22.62, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $101.92.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NKE shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Monday. Morgan Stanley dropped their price objective on NIKE from $74.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Evercore ISI dropped their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.54.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE 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 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE 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.