OVERSEA CHINESE BANKING Corp Ltd Sells 76,210 Shares of NIKE, Inc. (NYSE:NKE)

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in NIKE, Inc. (NYSE:NKE) by 70.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,092 shares of the footwear maker’s stock after selling 76,210 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in NIKE were worth $2,452,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. JNBA Financial Advisors boosted its stake in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after buying an additional 131 shares in the last quarter. Frisch Financial Group Inc. boosted its stake in NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after buying an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares in the last quarter. GAMMA Investing LLC boosted its stake in NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC boosted its stake in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.5 %

NYSE NKE opened at $72.92 on Thursday. The company has a market cap of $107.86 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $101.92. The business has a 50 day moving average price of $74.76 and a 200-day moving average price of $77.60. 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 (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given 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 2.19%. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NKE shares. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $75.00 to $115.00 in a research note on Monday, February 24th. China Renaissance assumed coverage on NIKE in a research note on Wednesday. They set a “hold” rating on the stock. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Wells Fargo & Company cut their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Finally, BMO Capital Markets lifted their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $89.54.

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.