NIKE, Inc. (NYSE:NKE) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 23.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,126 shares of the footwear maker’s stock after selling 9,701 shares during the period. Bar Harbor Wealth Management’s holdings in NIKE were worth $2,355,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Range Financial Group LLC purchased a new stake in shares of NIKE in the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE in the 4th quarter valued at $9,987,000. ING Groep NV acquired a new stake in NIKE during the 3rd quarter worth $29,628,000. Confluence Investment Management LLC increased its stake in NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after purchasing an additional 14,592 shares during the period. Finally, Everence Capital Management Inc. boosted its stake in shares of NIKE by 128.1% during the fourth quarter. Everence Capital Management Inc. now owns 24,680 shares of the footwear maker’s stock worth $1,868,000 after buying an additional 13,860 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on NKE shares. Sanford C. Bernstein reduced their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Evercore ISI lowered their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Jefferies Financial Group upped their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. 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 stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Up 1.3 %

Shares of NKE traded up $0.96 on Monday, hitting $72.16. 11,087,486 shares of the stock traded hands, compared to its average volume of 11,998,229. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43. The stock’s 50 day moving average is $76.29 and its two-hundred day moving average is $78.25. The firm has a market capitalization of $106.73 billion, a P/E ratio of 20.68, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is presently 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.