Delta Financial Advisors LLC Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Delta Financial Advisors LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,635 shares of the footwear maker’s stock after selling 2,731 shares during the quarter. Delta Financial Advisors LLC’s holdings in NIKE were worth $2,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Pacer Advisors Inc. boosted its stake in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after acquiring an additional 2,357,745 shares during the last quarter. Finally, State Street Corp boosted its stake in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s 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 of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost 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 represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NKE. JPMorgan Chase & Co. dropped their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Royal Bank of Canada lowered their price target 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. TD Cowen lowered their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a research report on Monday. Finally, Robert W. Baird lowered their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Price Performance

NKE stock opened at $81.91 on Wednesday. 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, Inc. has a one year low of $68.62 and a one year high of $106.10. The stock has a market cap of $121.15 billion, a PE ratio of 25.28, a P/E/G ratio of 2.52 and a beta of 1.01. The firm has a 50 day simple moving average of $74.45 and a two-hundred day simple moving average of $78.26.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 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 business 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 company earned $1.03 EPS. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid 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 dividend yield of 1.95%. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.