Nike Inc (NYSE:NKE) Shares Sold by Mackay Shields LLC

Mackay Shields LLC cut its holdings in shares of Nike Inc (NYSE:NKE) by 27.0% in the fourth quarter, HoldingsChannel reports. The firm owned 409,561 shares of the footwear maker’s stock after selling 151,782 shares during the period. Mackay Shields LLC’s holdings in Nike were worth $41,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Firestone Capital Management acquired a new position in shares of Nike in the fourth quarter worth about $25,000. LFA Lugano Financial Advisors SA acquired a new position in shares of Nike in the fourth quarter worth about $33,000. Carmichael Hill & Associates Inc. acquired a new position in shares of Nike in the fourth quarter worth about $37,000. KCS Wealth Advisory acquired a new position in shares of Nike in the third quarter worth about $38,000. Finally, Savior LLC acquired a new position in shares of Nike in the fourth quarter worth about $40,000. Institutional investors own 61.64% of the company’s stock.

In related news, CEO Mark G. Parker sold 165,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $93.55, for a total transaction of $15,435,750.00. Following the completion of the sale, the chief executive officer now owns 2,046,040 shares of the company’s stock, valued at approximately $191,407,042. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter B. Henry sold 2,416 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $101.14, for a total transaction of $244,354.24. Following the sale, the director now directly owns 4,046 shares of the company’s stock, valued at approximately $409,212.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 436,916 shares of company stock valued at $43,122,614. 3.80% of the stock is owned by corporate insiders.

A number of research analysts have weighed in on NKE shares. Susquehanna Bancshares reiterated a “buy” rating and issued a $115.00 price objective on shares of Nike in a research report on Wednesday, February 5th. Barclays started coverage on shares of Nike in a research report on Tuesday, November 12th. They issued an “overweight” rating and a $111.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Nike in a research report on Wednesday, December 11th. Jefferies Financial Group set a $97.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Oppenheimer started coverage on shares of Nike in a research report on Thursday, February 6th. They issued a “buy” rating and a $115.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-six have assigned a buy rating to the company. Nike currently has a consensus rating of “Buy” and a consensus target price of $107.67.

Shares of NKE stock traded up $0.83 on Friday, reaching $89.38. 16,552,335 shares of the company were exchanged, compared to its average volume of 6,530,466. The company has a market cap of $143.28 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 2.23 and a beta of 0.83. The business has a 50-day moving average price of $100.73 and a 200 day moving average price of $94.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.23 and a current ratio of 1.98. Nike Inc has a 1 year low of $77.07 and a 1 year high of $105.62.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Nike had a net margin of 11.21% and a return on equity of 50.03%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that Nike Inc will post 2.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.98 annualized dividend and a yield of 1.10%. Nike’s dividend payout ratio is presently 39.36%.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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