Zullo Investment Group Inc. Has $331,000 Stake in NIKE, Inc. (NYSE:NKE)

Zullo Investment Group Inc. reduced its holdings in NIKE, Inc. (NYSE:NKE) by 17.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,371 shares of the footwear maker’s stock after selling 926 shares during the period. Zullo Investment Group Inc.’s holdings in NIKE were worth $331,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Range Financial Group LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $642,000. Cacti Asset Management LLC bought a new position in NIKE in the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd acquired a new position in shares of NIKE during the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. raised its stake in shares of NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its holdings in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NKE shares. 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. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. cut their target price 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. UBS Group reissued a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Finally, Citigroup cut NIKE from a “buy” rating to a “neutral” rating and cut their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.62.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Trading Down 1.0 %

Shares of NYSE:NKE opened at $76.80 on Thursday. The business’s 50 day simple moving average is $74.34 and its 200 day simple moving average is $78.06. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. 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 company has a market capitalization of $113.60 billion, a P/E ratio of 23.70, a P/E/G ratio of 2.53 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results 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 company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. On average, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is presently 49.38%.

NIKE 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.