Capital Group Private Client Services Inc. Sells 209,028 Shares of NIKE, Inc. (NYSE:NKE)

Capital Group Private Client Services Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 91.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,486 shares of the footwear maker's stock after selling 209,028 shares during the period. Capital Group Private Client Services Inc.'s holdings in NIKE were worth $1,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Range Financial Group LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $642,000. Cacti Asset Management LLC purchased a new position in shares of NIKE in the fourth quarter valued at about $9,987,000. Capricorn Fund Managers Ltd bought a new position in shares of NIKE during the fourth quarter valued at about $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker's stock worth $1,955,000 after purchasing an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker's stock worth $654,000 after purchasing an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 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 disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

NIKE stock traded down $0.13 during trading on Wednesday, reaching $56.93. The company had a trading volume of 11,988,385 shares, compared to its average volume of 14,247,752. The firm has a market capitalization of $84.21 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm's 50-day simple moving average is $67.75 and its 200 day simple moving average is $73.44. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm's revenue was down 9.1% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 53.16%.

Wall Street Analyst Weigh In

NKE has been the subject of several research analyst reports. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and increased their price objective for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Stifel Nicolaus dropped their price target on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. UBS Group dropped their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Finally, Guggenheim reiterated a "buy" rating and set a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Sixteen 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.19.

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.