Tritonpoint Wealth LLC Cuts Position in NIKE, Inc. (NYSE:NKE)

Tritonpoint Wealth LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 24.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,571 shares of the footwear maker’s stock after selling 1,795 shares during the period. Tritonpoint Wealth LLC’s holdings in NIKE were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its position in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the period. Loomis Sayles & Co. L P increased its stake in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. State Street Corp boosted its position in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in NIKE in the third quarter valued at $148,635,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent research reports. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a report on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $76.82 on Monday. The company’s fifty day simple moving average is $75.60 and its 200-day simple moving average is $78.03. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The company has a market cap of $113.62 billion, a PE ratio of 23.71, a P/E/G ratio of 2.44 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.09 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s dividend payout ratio (DPR) is 49.38%.

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.