Paladin Advisory Group LLC Lowers Stake in NIKE, Inc. (NYSE:NKE)

Paladin Advisory Group LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 21.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,695 shares of the footwear maker’s stock after selling 472 shares during the period. Paladin Advisory Group LLC’s holdings in NIKE were worth $128,000 at the end of the most recent quarter.

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

NIKE Trading Up 0.1 %

NKE stock opened at $74.45 on Wednesday. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $75.48 and its 200-day moving average is $77.96. The firm has a market cap of $110.13 billion, a P/E ratio of 22.99, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during 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 firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Equities analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared 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 dividend yield of 2.15%. This is a boost 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 currently 49.38%.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. TD Cowen cut their target price 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. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.96.

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.