Independent Advisor Alliance Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Independent Advisor Alliance reduced its stake in NIKE, Inc. (NYSE:NKE) by 14.9% during the 4th quarter, Holdings Channel reports. The fund owned 41,381 shares of the footwear maker’s stock after selling 7,229 shares during the period. Independent Advisor Alliance’s holdings in NIKE were worth $3,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teachers Insurance & Annuity Association of America purchased a new stake in shares of NIKE in the third quarter valued at $30,000. Caitlin John LLC lifted its position in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $28,000. Roxbury Financial LLC purchased a new stake in shares of NIKE in the fourth quarter valued at $30,000. Finally, BankPlus Trust Department purchased a new stake in shares of NIKE in the fourth quarter valued at $34,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NKE opened at $73.62 on Thursday. The firm has a market cap of $108.89 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.52 and a beta of 1.02. The stock has a 50 day moving average of $74.73 and a 200-day moving average of $77.99. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $102.49.

NIKE (NYSE:NKE) last issued its earnings results 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 company had revenue of $12.35 billion during 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%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 EPS. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Guggenheim reiterated a “buy” rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. BMO Capital Markets increased their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 target price on shares of NIKE in a research report on Wednesday, February 19th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost 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 approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.