Sanctuary Advisors LLC Cuts Holdings in NIKE, Inc. $NKE

Sanctuary Advisors LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 14.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 118,123 shares of the footwear maker’s stock after selling 19,325 shares during the period. Sanctuary Advisors LLC’s holdings in NIKE were worth $7,526,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NKE. Mizuho Markets Cayman LP bought a new stake in shares of NIKE during the 3rd quarter worth $34,200,000. Strive Asset Management LLC bought a new position in NIKE during the third quarter valued at about $1,743,000. Park National Corp OH increased its holdings in NIKE by 81.5% during the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock worth $27,463,000 after buying an additional 193,514 shares during the last quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD increased its holdings in NIKE by 106.1% during the third quarter. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD now owns 205,082 shares of the footwear maker’s stock worth $14,343,000 after buying an additional 105,569 shares during the last quarter. Finally, Aberdeen Group plc raised its position in NIKE by 3.9% in the fourth quarter. Aberdeen Group plc now owns 1,914,243 shares of the footwear maker’s stock worth $121,956,000 after acquiring an additional 72,681 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $45.01 on Wednesday. The firm’s 50 day moving average is $52.24 and its 200 day moving average is $59.97. The stock has a market capitalization of $66.65 billion, a P/E ratio of 29.81, a PEG ratio of 2.39 and a beta of 1.31. NIKE, Inc. has a 12 month low of $42.09 and a 12 month high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 1.52 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, March 2nd. NIKE’s payout ratio is presently 108.61%.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. Royal Bank Of Canada reissued a “buy” rating on shares of NIKE in a research report on Wednesday, April 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $52.00 price target (down from $76.00) on shares of NIKE in a report on Wednesday, April 1st. UBS Group dropped their price objective on NIKE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 1st. Needham & Company LLC lowered NIKE from a “buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, China Renaissance lowered their target price on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Seventeen research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, NIKE has an average rating of “Hold” and a consensus target price of $62.34.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 11,781 shares of NIKE stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $42.44 per share, with a total value of $499,985.64. Following the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. This represents a 27.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy D. Cook purchased 25,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were bought at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the transaction, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have purchased 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by company insiders.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).