Quotient Wealth Partners LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Quotient Wealth Partners LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 1.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,511 shares of the footwear maker’s stock after selling 207 shares during the quarter. Quotient Wealth Partners LLC’s holdings in NIKE were worth $871,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Range Financial Group LLC purchased a new position in shares of NIKE during the 4th quarter worth about $642,000. Cacti Asset Management LLC bought a new stake in NIKE in the fourth quarter worth about $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE during the fourth quarter valued at approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after buying an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after buying an additional 8,504 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. UBS Group reaffirmed a “neutral” rating and issued a $73.00 price target on shares of NIKE in a research note on Thursday, December 26th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Royal Bank of Canada decreased their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $68.69 on Friday. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $101.60 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. The stock’s 50-day simple moving average is $75.12 and its 200-day simple moving average is $78.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business 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 business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. 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 dividend payout ratio (DPR) is presently 49.38%.

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.