Perigon Wealth Management LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Perigon Wealth Management LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 56,422 shares of the footwear maker’s stock after selling 4,705 shares during the quarter. Perigon Wealth Management LLC’s holdings in NIKE were worth $4,012,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NKE. Range Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC bought a new stake in shares of NIKE during the 4th quarter valued at $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE in the 4th quarter worth about $5,384,000. FNY Investment Advisers LLC increased its stake in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after acquiring an additional 8,504 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its stake in NIKE by 49.2% during the fourth quarter. Eagle Rock Investment Company LLC now owns 60,642 shares of the footwear maker’s stock worth $4,589,000 after acquiring an additional 19,991 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE opened at $74.38 on Wednesday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week 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 stock has a market cap of $110.02 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 2.36 and a beta of 1.02. The business has a 50-day simple moving average of $75.47 and a two-hundred day simple moving average of $77.95.

NIKE (NYSE:NKE) last issued 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 business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. 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 is presently 49.38%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased 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 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 document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Company 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.