Sterling Capital Management LLC Reduces Position in NIKE, Inc. (NYSE:NKE)

Sterling Capital Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 76.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,919 shares of the footwear maker's stock after selling 189,813 shares during the quarter. Sterling Capital Management LLC's holdings in NIKE were worth $4,383,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NKE. JNBA Financial Advisors increased its position in shares of NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock worth $760,000 after purchasing an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in NIKE by 0.7% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after buying an additional 136 shares during the period. Elgethun Capital Management increased its position in shares of NIKE by 13.7% during the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of NIKE by 1.0% in the 4th 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 period. Finally, Game Plan Financial Advisors LLC lifted its holdings in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock worth $114,000 after acquiring an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

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Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company's stock in a transaction dated 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 completion of the sale, the chairman now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction dated 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 completion of the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This represents 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 Trading Up 1.8 %

Shares of NKE traded up $0.98 on Monday, hitting $55.37. 28,325,386 shares of the stock traded hands, compared to its average volume of 14,093,492. The firm has a market capitalization of $81.90 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.52 and a beta of 1.15. 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 1 year low of $52.28 and a 1 year high of $98.04. The stock's 50 day moving average is $69.65 and its two-hundred day moving average is $74.59.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (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 analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NKE. 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 report on Friday, March 21st. Citigroup cut NIKE from a "buy" rating to a "neutral" rating and lowered their target price for the company from $102.00 to $72.00 in a report on Friday, February 7th. Robert W. Baird cut their target price on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note 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. Finally, Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Fifteen 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 presently has a consensus rating of "Moderate Buy" and an average price target of $86.19.

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.