Cedar Mountain Advisors LLC Sells 1,499 Shares of NIKE, Inc. (NYSE:NKE)

Cedar Mountain Advisors LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 15.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,025 shares of the footwear maker’s stock after selling 1,499 shares during the period. Cedar Mountain Advisors LLC’s holdings in NIKE were worth $607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Garrison Point Advisors LLC raised its position in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares during the last quarter. Stephens Consulting LLC lifted its stake in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC boosted its holdings in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. boosted its holdings in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its position in NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after buying an additional 133 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE opened at $73.60 on Friday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The stock has a market cap of $108.86 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.36 and a beta of 1.02. The stock’s 50 day simple moving average is $75.45 and its 200 day simple moving average is $77.86. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last announced its 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.17%. NIKE’s payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada decreased 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 report on Thursday, November 7th. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 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, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

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.