Guggenheim Capital LLC Sells 18,978 Shares of NIKE, Inc. (NYSE:NKE)

Guggenheim Capital LLC lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 127,328 shares of the footwear maker's stock after selling 18,978 shares during the quarter. Guggenheim Capital LLC's holdings in NIKE were worth $9,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock valued at $9,332,000 after buying an additional 41,752 shares during the period. Denver PWM LLC raised its holdings in shares of NIKE by 9.7% during the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock valued at $228,000 after buying an additional 227 shares in the last quarter. Confluence Investment Management LLC lifted its position in NIKE by 6.3% in the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock worth $18,621,000 after buying an additional 14,592 shares during the last quarter. Cacti Asset Management LLC purchased a new stake in NIKE in the fourth quarter worth approximately $9,987,000. Finally, GAMMA Investing LLC grew its position in 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 acquiring an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NKE shares. Dbs Bank raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. BMO Capital Markets dropped their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Stifel Nicolaus lowered their price objective on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Needham & Company LLC lowered their price target on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 17th. Finally, Wells Fargo & Company cut their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $85.15.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The stock was 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 trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $2.18 during trading on Friday, reaching $55.73. 18,891,139 shares of the company traded hands, compared to its average volume of 14,196,646. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The stock has a market capitalization of $82.44 billion, a PE ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15. The firm has a 50 day simple moving average of $68.39 and a 200-day simple moving average of $73.85.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio is presently 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.