National Bank of Canada FI Sells 2,152,639 Shares of NIKE, Inc. (NYSE:NKE)

National Bank of Canada FI cut its stake in NIKE, Inc. (NYSE:NKE) by 68.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 986,757 shares of the footwear maker’s stock after selling 2,152,639 shares during the quarter. National Bank of Canada FI owned 0.06% of NIKE worth $105,074,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Excalibur Management Corp raised its position in shares of NIKE by 1.9% during the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after purchasing an additional 98 shares during the period. Jeppson Wealth Management LLC increased its position in shares of NIKE by 4.5% during the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock worth $221,000 after acquiring an additional 100 shares in the last quarter. Cairn Investment Group Inc. raised its holdings in shares of NIKE by 4.2% in the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after acquiring an additional 100 shares during the last quarter. Tiemann Investment Advisors LLC raised its holdings in shares of NIKE by 3.1% in the 3rd quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock worth $319,000 after acquiring an additional 100 shares during the last quarter. Finally, Piscataqua Savings Bank boosted its stake in NIKE by 2.1% during the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after purchasing an additional 100 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on NKE. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research note on Tuesday, April 30th. Wells Fargo & Company cut their price objective on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Robert W. Baird lowered their target price on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, Sanford C. Bernstein decreased their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Trading Down 0.3 %

Shares of NKE stock traded down $0.26 on Friday, hitting $92.15. 5,736,711 shares of the company’s stock traded hands, compared to its average volume of 8,740,078. NIKE, Inc. has a one year low of $88.66 and a one year high of $127.69. The stock has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company’s fifty day simple moving average is $95.73 and its 200 day simple moving average is $103.04.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.61%. NIKE’s payout ratio is 43.53%.

About NIKE

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.