Carnegie Capital Asset Management LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Carnegie Capital Asset Management LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 192,133 shares of the footwear maker’s stock after selling 1,521 shares during the period. Carnegie Capital Asset Management LLC’s holdings in NIKE were worth $20,860,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its stake in NIKE by 139,649.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after acquiring an additional 16,801,276 shares during the period. Norges Bank bought a new position in NIKE during the 4th quarter valued at about $1,345,203,000. Newport Trust Company LLC bought a new position in NIKE during the 3rd quarter valued at about $679,775,000. Morgan Stanley lifted its stake in NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after acquiring an additional 6,410,744 shares during the period. Finally, Flossbach Von Storch AG lifted its stake in NIKE by 433.5% during the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock valued at $394,775,000 after acquiring an additional 3,354,677 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. UBS Group lowered their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Telsey Advisory Group reduced their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Oppenheimer lowered shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target for the company. in a research report on Friday, February 16th. Finally, TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

NKE remained flat at $92.00 during trading on Friday. 10,905,919 shares of the company’s stock were exchanged, compared to its average volume of 11,712,185. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The business’s 50-day simple moving average is $98.96 and its two-hundred day simple moving average is $103.37. The stock has a market capitalization of $138.86 billion, a P/E ratio of 27.06, a P/E/G ratio of 1.72 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, sell-side analysts expect that NIKE, Inc. will post 3.7 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. NIKE’s dividend payout ratio is presently 43.53%.

NIKE 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.