Geo Capital Gestora de Recursos Ltd Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Geo Capital Gestora de Recursos Ltd cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 42.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,895 shares of the footwear maker's stock after selling 25,474 shares during the period. NIKE comprises 3.4% of Geo Capital Gestora de Recursos Ltd's portfolio, making the stock its 13th biggest position. Geo Capital Gestora de Recursos Ltd's holdings in NIKE were worth $2,641,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. JNBA Financial Advisors raised its holdings in shares of NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Frisch Financial Group Inc. raised its holdings in shares of NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker's stock valued at $269,000 after purchasing an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of NIKE by 0.7% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after purchasing an additional 136 shares during the period. GAMMA Investing LLC boosted its stake in shares of NIKE by 1.0% during the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker's stock valued at $1,136,000 after purchasing an additional 150 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its holdings in NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after buying an additional 150 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $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. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NKE. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research report on Monday, December 16th. Barclays cut their target price on NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company reduced their target price on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, March 21st. China Renaissance began coverage on shares of NIKE in a report on Wednesday, March 19th. They issued a "hold" rating on the stock. Finally, Guggenheim reiterated a "buy" rating and set a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.38.

NIKE Price Performance

Shares of NYSE:NKE traded down $0.79 during midday trading on Wednesday, reaching $65.76. 18,682,768 shares of the company's stock traded hands, compared to its average volume of 12,445,971. The company has a fifty day simple moving average of $74.52 and a two-hundred day simple moving average of $77.21. NIKE, Inc. has a 1 year low of $64.96 and a 1 year high of $98.04. The company has a market cap of $97.26 billion, a P/E ratio of 20.29, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

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 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 for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the firm posted $0.98 EPS. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 53.16%.

About NIKE

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.