InterOcean Capital Group LLC Has $1.20 Million Stake in NIKE, Inc. (NYSE:NKE)

InterOcean Capital Group LLC trimmed its position in NIKE, Inc. (NYSE:NKE) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,031 shares of the footwear maker’s stock after selling 306 shares during the quarter. InterOcean Capital Group LLC’s holdings in NIKE were worth $1,198,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Iron Horse Wealth Management LLC grew its holdings in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE during the fourth quarter valued at $29,000. Raleigh Capital Management Inc. lifted its stake in shares of NIKE by 134.2% during the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 216 shares during the period. Mizuho Securities Co. Ltd. lifted its stake in shares of NIKE by 100.0% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 340 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 170 shares during the period. Finally, NewSquare Capital LLC lifted its stake in shares of NIKE by 372.0% during the fourth quarter. NewSquare Capital LLC now owns 354 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 279 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NYSE NKE traded down $0.74 during midday trading on Thursday, hitting $91.76. 1,475,365 shares of the company’s stock were exchanged, compared to its average volume of 9,175,480. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $123.39. The company’s 50 day moving average price is $93.49 and its 200 day moving average price is $102.11. The firm has a market capitalization of $138.50 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.79 and a beta of 1.07.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.61%. NIKE’s payout ratio is currently 43.53%.

Insider Buying and Selling

In related news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the transaction, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at $4,236,917.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. Piper Sandler cut their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. StockNews.com raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and increased their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Williams Trading reaffirmed a “sell” rating and set a $85.00 price target (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $100.00 price target (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.