NIKE, Inc. (NYSE:NKE) Stock Position Lessened by Cinctive Capital Management LP

Cinctive Capital Management LP lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,668 shares of the footwear maker's stock after selling 12,910 shares during the quarter. Cinctive Capital Management LP's holdings in NIKE were worth $2,245,000 at the end of the most recent quarter.

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

NIKE Stock Performance

NYSE NKE traded down $9.48 during trading hours on Thursday, reaching $55.49. The company's stock had a trading volume of 71,401,127 shares, compared to its average volume of 13,211,281. 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 business has a 50-day simple moving average of $73.28 and a 200 day simple moving average of $76.49. NIKE, Inc. has a 52 week low of $55.26 and a 52 week high of $98.04. The stock has a market cap of $82.07 billion, a PE ratio of 17.13, a PEG ratio of 2.52 and a beta of 1.02.

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NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share 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 business had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the prior year, the firm earned $0.98 EPS. The business's quarterly revenue was down 9.1% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. NIKE's dividend payout ratio is currently 53.16%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, December 20th. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reduced their target price on shares of NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a report on Friday, March 21st. DA Davidson upgraded NIKE to a "strong-buy" rating in a report on Monday, December 23rd. Finally, Cfra Research upgraded NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Fifteen 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's stock. Based on data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average target price of $87.38.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company's stock.

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.