CIBC Private Wealth Group LLC Has $11.79 Million Stock Position in NIKE, Inc. (NYSE:NKE)

CIBC Private Wealth Group LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 165,406 shares of the footwear maker’s stock after selling 2,890 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in NIKE were worth $11,792,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in shares of NIKE by 3.3% during 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 purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC boosted its position in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after buying an additional 251,411 shares during the period. Bank of New York Mellon Corp increased its position in NIKE by 18.1% in the 4th 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 period. Finally, Norges Bank acquired a new position in shares of NIKE during the fourth quarter worth $1,126,288,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Monday, March 17th. Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Robert W. Baird decreased their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fifteen investment 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $63.57 on Tuesday. The company has a market capitalization of $94.02 billion, a PE ratio of 19.62, a PEG ratio of 2.52 and a beta of 1.02. 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’s 50 day moving average price is $74.01 and its 200-day moving average price is $76.82. NIKE, Inc. has a twelve month low of $62.65 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed 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. This represents a $1.60 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

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.