State of Alaska Department of Revenue Sells 18,565 Shares of NIKE, Inc. (NYSE:NKE)

State of Alaska Department of Revenue trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,755 shares of the footwear maker’s stock after selling 18,565 shares during the period. State of Alaska Department of Revenue’s holdings in NIKE were worth $10,272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Atomi Financial Group Inc. increased its stake in shares of NIKE by 4.7% in the third quarter. Atomi Financial Group Inc. now owns 11,243 shares of the footwear maker’s stock worth $994,000 after buying an additional 500 shares during the period. Brookstone Capital Management grew its holdings in NIKE by 11.3% in the 3rd quarter. Brookstone Capital Management now owns 91,176 shares of the footwear maker’s stock worth $8,060,000 after acquiring an additional 9,226 shares during the last quarter. First PREMIER Bank grew its holdings in NIKE by 666.7% in the 3rd quarter. First PREMIER Bank now owns 690 shares of the footwear maker’s stock worth $61,000 after acquiring an additional 600 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of NIKE by 35.4% in the third quarter. Hexagon Capital Partners LLC now owns 3,196 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 835 shares during the period. Finally, High Note Wealth LLC bought a new position in shares of NIKE during the third quarter valued at about $208,000. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NKE. Stifel Nicolaus cut their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Morgan Stanley reduced their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Wells Fargo & Company reduced their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought 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 in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 3.8 %

NIKE stock opened at $71.75 on Friday. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The business’s fifty day moving average is $75.45 and its 200 day moving average is $78.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a market capitalization of $106.13 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend 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.