Sonora Investment Management LLC Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Sonora Investment Management LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 7,260 shares of the footwear maker’s stock after selling 226 shares during the period. Sonora Investment Management LLC’s holdings in NIKE were worth $965,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OLD Mission Capital LLC purchased a new position in shares of NIKE in the 3rd quarter worth approximately $338,000. Rockland Trust Co. boosted its stake in NIKE by 6.2% in the 4th quarter. Rockland Trust Co. now owns 8,995 shares of the footwear maker’s stock worth $1,273,000 after purchasing an additional 525 shares in the last quarter. Stillwater Investment Management LLC boosted its stake in NIKE by 6.8% in the 4th quarter. Stillwater Investment Management LLC now owns 36,923 shares of the footwear maker’s stock worth $5,224,000 after purchasing an additional 2,336 shares in the last quarter. First American Bank boosted its stake in NIKE by 0.4% in the 4th quarter. First American Bank now owns 53,350 shares of the footwear maker’s stock worth $7,547,000 after purchasing an additional 221 shares in the last quarter. Finally, Woodstock Corp acquired a new stake in NIKE in the 4th quarter worth approximately $432,000. 64.20% of the stock is currently owned by institutional investors and hedge funds.

In related news, Chairman Mark G. Parker sold 114,094 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $130.67, for a total value of $14,908,662.98. Following the completion of the sale, the chairman now directly owns 1,537,729 shares in the company, valued at $200,935,048.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hilary K. Krane sold 15,000 shares of the stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $133.54, for a total transaction of $2,003,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,482 shares of company stock valued at $17,342,141. 3.80% of the stock is currently owned by corporate insiders.

Several analysts have commented on NKE shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell restated a “neutral” rating and set a $140.00 price objective (down from $160.00) on shares of NIKE in a research note on Monday, April 26th. Credit Suisse Group boosted their price target on shares of NIKE from $162.00 to $176.00 and gave the stock an “outperform” rating in a report on Thursday, March 25th. The Goldman Sachs Group set a $164.00 target price on shares of NIKE and gave the stock a “buy” rating in a report on Monday, January 4th. Robert W. Baird raised shares of NIKE from a “neutral” rating to an “outperform” rating and set a $150.00 target price for the company in a report on Thursday, April 1st. Finally, Zacks Investment Research cut shares of NIKE from a “buy” rating to a “hold” rating and set a $146.00 price target on the stock. in a research report on Monday, March 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirty have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $159.83.

NKE stock traded down $1.48 during midday trading on Tuesday, hitting $131.55. 41,377 shares of the company’s stock were exchanged, compared to its average volume of 6,459,695. The company has a market cap of $207.84 billion, a PE ratio of 76.02, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. The stock’s fifty day moving average price is $134.38 and its 200-day moving average price is $135.89. NIKE, Inc. has a one year low of $84.11 and a one year high of $147.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.97 and a current ratio of 2.66.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. The company had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.98 billion. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. On average, analysts expect that NIKE, Inc. will post 2.96 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Investors of record on Monday, March 1st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, February 26th. NIKE’s dividend payout ratio (DPR) is currently 59.46%.

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other 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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