Perigon Wealth Management LLC Decreases Holdings in NIKE, Inc. (NYSE:NKE)

Perigon Wealth Management LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 7.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 56,422 shares of the footwear maker’s stock after selling 4,705 shares during the quarter. Perigon Wealth Management LLC’s holdings in NIKE were worth $4,012,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vantage Investment Partners LLC raised its holdings in shares of NIKE by 6.4% in the 4th quarter. Vantage Investment Partners LLC now owns 460,462 shares of the footwear maker’s stock worth $34,843,000 after purchasing an additional 27,566 shares during the period. Verde Servicos Internacionais S.A. increased its position in NIKE by 88.0% in the fourth quarter. Verde Servicos Internacionais S.A. now owns 117,903 shares of the footwear maker’s stock worth $8,922,000 after buying an additional 55,202 shares during the last quarter. Nilsine Partners LLC raised its stake in shares of NIKE by 3.5% in the fourth quarter. Nilsine Partners LLC now owns 17,046 shares of the footwear maker’s stock valued at $1,290,000 after buying an additional 571 shares during the period. Foundations Investment Advisors LLC lifted its position in shares of NIKE by 10.6% during the 4th quarter. Foundations Investment Advisors LLC now owns 5,314 shares of the footwear maker’s stock valued at $402,000 after buying an additional 510 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after acquiring an additional 6,709,985 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $74.38 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43. The company has a fifty day moving average of $75.47 and a 200-day moving average of $77.95. The stock has a market capitalization of $110.02 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last posted 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. 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 analyst estimates of $12.11 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.15%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Robert W. Baird cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Morgan Stanley lowered their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

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.