Choreo LLC Reduces Holdings in NIKE, Inc. $NKE

Choreo LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 22.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,457 shares of the footwear maker’s stock after selling 5,476 shares during the period. Choreo LLC’s holdings in NIKE were worth $1,319,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NKE. Brighton Jones LLC boosted its position in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Federated Hermes Inc. increased its position in NIKE by 2.0% during the first quarter. Federated Hermes Inc. now owns 110,080 shares of the footwear maker’s stock worth $6,988,000 after buying an additional 2,207 shares during the period. Banque Cantonale Vaudoise purchased a new stake in NIKE in the first quarter valued at approximately $324,000. Nicolet Advisory Services LLC boosted its holdings in shares of NIKE by 28.0% in the first quarter. Nicolet Advisory Services LLC now owns 9,400 shares of the footwear maker’s stock valued at $597,000 after acquiring an additional 2,055 shares during the period. Finally, Howland Capital Management LLC grew its position in shares of NIKE by 44.3% during the first quarter. Howland Capital Management LLC now owns 8,774 shares of the footwear maker’s stock worth $560,000 after acquiring an additional 2,695 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.8%

Shares of NYSE:NKE opened at $64.84 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $66.53 and its 200-day simple moving average is $69.04. The company has a market cap of $95.84 billion, a price-to-earnings ratio of 33.25, a PEG ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. This is an increase from NIKE’s previous quarterly dividend of $0.40. NIKE’s payout ratio is 84.10%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the completion of the sale, the chairman owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company upgraded shares of NIKE from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $60.00 to $75.00 in a research report on Thursday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Finally, Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.24.

NIKE Company 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.