CIBC Asset Management Inc Sells 2,353 Shares of NIKE, Inc. (NYSE:NKE)

CIBC Asset Management Inc trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 182,967 shares of the footwear maker’s stock after selling 2,353 shares during the quarter. CIBC Asset Management Inc’s holdings in NIKE were worth $13,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the 4th quarter valued at $28,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE during the 3rd quarter worth $30,000. Roxbury Financial LLC acquired a new position in shares of NIKE during the 4th quarter worth $30,000. Finally, Dunhill Financial LLC raised its holdings in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after buying an additional 169 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NKE shares. JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Thursday, February 6th. Wells Fargo & Company lowered their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Morgan Stanley lowered their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Up 6.2 %

Shares of NIKE stock opened at $77.54 on Wednesday. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock’s 50-day moving average is $74.37 and its 200 day moving average is $78.04. The firm has a market cap of $114.70 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $12.11 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. NIKE’s payout ratio is 49.38%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE 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.