Reynders McVeigh Capital Management LLC Trims Holdings in NIKE, Inc. (NYSE:NKE)

Reynders McVeigh Capital Management LLC lessened its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 35.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,900 shares of the footwear maker's stock after selling 8,690 shares during the quarter. Reynders McVeigh Capital Management LLC's holdings in NIKE were worth $1,203,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter worth about $28,000. Roxbury Financial LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA boosted its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE in the 4th quarter worth approximately $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. Cfra Research raised shares of NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Needham & Company LLC dropped their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. DA Davidson upgraded NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Royal Bank of Canada cut their target price on NIKE from $67.00 to $66.00 and set a "sector perform" rating on the stock in a research note on Friday, March 21st. Finally, Robert W. Baird cut their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of "Moderate Buy" and an average price target of $85.15.

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NIKE Stock Performance

NYSE:NKE traded down $0.13 during trading on Tuesday, reaching $55.28. The company's stock had a trading volume of 1,779,423 shares, compared to its average volume of 14,047,874. The firm has a market cap of $81.77 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a 50 day moving average of $69.65 and a 200-day moving average of $74.59.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.40 dividend. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Insider Buying and Selling at NIKE

In related news, 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 transaction, the chairman now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, 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.

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.