Grimes & Company Inc. Sells 43,643 Shares of NIKE, Inc. (NYSE:NKE)

Grimes & Company Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 29.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,845 shares of the footwear maker’s stock after selling 43,643 shares during the period. Grimes & Company Inc.’s holdings in NIKE were worth $7,782,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P increased its stake in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. State Street Corp increased its stake in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Holocene Advisors LP bought a new position in shares of NIKE in the 3rd quarter valued at $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in NIKE during the 3rd quarter worth $144,927,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. cut their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Price Performance

NIKE stock opened at $73.60 on Friday. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. 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 business’s 50 day simple moving average is $75.45 and its 200 day simple moving average is $77.86. The company has a market cap of $108.86 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.