Reynders McVeigh Capital Management LLC Sells 8,690 Shares of NIKE, Inc. (NYSE:NKE)

Reynders McVeigh Capital Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 35.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,900 shares of the footwear maker’s stock after selling 8,690 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in NIKE were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NKE. Caitlin John LLC increased its position in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at about $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the fourth quarter valued at about $30,000. LFA Lugano Financial Advisors SA raised its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE in the fourth quarter worth about $30,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Guggenheim reissued a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. BMO Capital Markets decreased their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $86.19.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the 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 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78 % 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.

NIKE Stock Up 0.1 %

NKE opened at $54.44 on Friday. The firm’s 50 day simple moving average is $70.03 and its two-hundred day simple moving average is $74.93. The company has a market capitalization of $80.52 billion, a PE ratio of 16.80, a PEG ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. 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 (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the firm earned $0.98 EPS. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.94%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

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.