NIKE, Inc. (NYSE:NKE) Stake Reduced by Saratoga Research & Investment Management

Saratoga Research & Investment Management reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 7.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 656,900 shares of the footwear maker's stock after selling 52,289 shares during the quarter. NIKE comprises approximately 2.5% of Saratoga Research & Investment Management's portfolio, making the stock its 16th biggest position. Saratoga Research & Investment Management's holdings in NIKE were worth $49,708,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and lifted their target price for the company from $75.00 to $115.00 in a report on Monday, February 24th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Morgan Stanley cut their target price on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Finally, Stifel Nicolaus dropped their price objective on NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a report on Friday, December 20th. Fifteen 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.38.

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Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

NIKE Stock Up 2.0 %

NYSE:NKE traded up $1.30 on Tuesday, reaching $64.78. The stock had a trading volume of 13,476,963 shares, compared to its average volume of 12,950,787. The stock has a market cap of $95.81 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12-month low of $62.65 and a 12-month high of $98.04. 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 company has a 50-day moving average of $74.01 and a 200 day moving average of $76.82.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results 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. 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 prior year, the business posted $0.98 EPS. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.47%. NIKE's payout ratio 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.