Scotia Capital Inc. Sells 29,138 Shares of NIKE, Inc. (NYSE:NKE)

Scotia Capital Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,831 shares of the footwear maker's stock after selling 29,138 shares during the period. Scotia Capital Inc.'s holdings in NIKE were worth $33,213,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC raised its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock valued at $28,000 after buying an additional 200 shares during the last quarter. Roxbury Financial LLC bought a new stake in NIKE during the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA grew its stake in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new position in shares of NIKE during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the topic of several analyst reports. Stifel Nicolaus dropped their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. cut their target price on NIKE from $73.00 to $64.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Royal Bank of Canada dropped their price objective on NIKE from $67.00 to $66.00 and set a "sector perform" rating for the company in a research report on Friday, March 21st. Finally, Citigroup cut shares of NIKE from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.19.

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NIKE Price Performance

NYSE NKE traded up $0.63 during trading hours on Monday, hitting $55.02. The company had a trading volume of 9,621,681 shares, compared to its average volume of 14,021,932. The firm has a 50 day simple moving average of $70.03 and a 200 day simple moving average of $74.83. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The firm has a market capitalization of $81.38 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.52 and a beta of 1.15. 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 earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion during 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%. NIKE's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.91%. NIKE's dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78 % increase in their position. The acquisition 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 stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE 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.