NIKE, Inc. (NYSE:NKE) Shares Sold by Vestcor Inc

Vestcor Inc lessened its stake in NIKE, Inc. (NYSE:NKE) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,479 shares of the footwear maker’s stock after selling 2,414 shares during the period. Vestcor Inc’s holdings in NIKE were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of NKE. Heck Capital Advisors LLC acquired a new position in NIKE in the fourth quarter valued at $28,000. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter worth about $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $30,000. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NKE. Stifel Nicolaus decreased their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Morgan Stanley cut their price target on shares of NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.69.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was bought at an average price 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 $2,636,989.95. The trade was 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 owned by company insiders.

NIKE Trading Down 1.3 %

Shares of NKE opened at $71.72 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $74.68 and a 200-day simple moving average of $77.86. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $101.92. The stock has a market cap of $106.08 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

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.