Delta Financial Advisors LLC Has $2.39 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Delta Financial Advisors LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,635 shares of the footwear maker’s stock after selling 2,731 shares during the period. Delta Financial Advisors LLC’s holdings in NIKE were worth $2,394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Gray Foundation acquired a new stake in NIKE in the fourth quarter valued at approximately $545,000. Illinois Municipal Retirement Fund boosted its position in NIKE by 2.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 149,644 shares of the footwear maker’s stock valued at $11,324,000 after buying an additional 3,995 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in NIKE by 0.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 104,494 shares of the footwear maker’s stock valued at $7,907,000 after buying an additional 513 shares in the last quarter. FourThought Financial Partners LLC bought a new position in shares of NIKE during the fourth quarter valued at $332,000. Finally, Bank of New York Mellon Corp raised its stake in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other 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 acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NKE. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their price target for the company from $75.00 to $115.00 in a research note on Monday. Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. BMO Capital Markets raised their price target on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Trading Up 2.0 %

NKE opened at $81.91 on Wednesday. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.10. 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 company has a market cap of $121.15 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01. The company has a fifty day moving average price of $74.45 and a two-hundred day moving average price of $78.26.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the company earned $1.03 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 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.