Parallel Advisors LLC Sells 10,828 Shares of NIKE, Inc. (NYSE:NKE)

Parallel Advisors LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 12.4% during the fourth quarter, Holdings Channel reports. The firm owned 76,332 shares of the footwear maker’s stock after selling 10,828 shares during the period. Parallel Advisors LLC’s holdings in NIKE were worth $5,776,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NKE. Cibc World Markets Corp lifted its stake in shares of NIKE by 7.2% in the fourth quarter. Cibc World Markets Corp now owns 330,606 shares of the footwear maker’s stock worth $25,017,000 after acquiring an additional 22,338 shares during the period. Arbor Capital Management Inc. ADV increased its holdings in NIKE by 2.3% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 15,275 shares of the footwear maker’s stock worth $1,169,000 after purchasing an additional 348 shares in the last quarter. IMG Wealth Management Inc. bought a new stake in NIKE in the fourth quarter worth approximately $46,000. Nicholas Company Inc. increased its holdings in NIKE by 9.3% in the fourth quarter. Nicholas Company Inc. now owns 74,267 shares of the footwear maker’s stock worth $5,620,000 after purchasing an additional 6,297 shares in the last quarter. Finally, Glenview Trust co increased its holdings in NIKE by 300.4% in the fourth quarter. Glenview Trust co now owns 99,050 shares of the footwear maker’s stock worth $7,495,000 after purchasing an additional 74,310 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $73.78 on Tuesday. The firm has a market cap of $109.13 billion, a PE ratio of 22.77, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $101.92. The business has a 50-day moving average price of $74.71 and a 200 day moving average price of $77.71.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business 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%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

Insider Buying and Selling at NIKE

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Needham & Company LLC decreased their price objective on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. decreased their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Wells Fargo & Company decreased their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Finally, Evercore ISI decreased their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Fourteen investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.54.

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.