Silver Oak Advisory Group Inc. Cuts Stake in NIKE, Inc. (NYSE:NKE)

Silver Oak Advisory Group Inc. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,833 shares of the footwear maker’s stock after selling 235 shares during the quarter. Silver Oak Advisory Group Inc.’s holdings in NIKE were worth $214,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of 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. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of NIKE in the 4th quarter valued at about $156,438,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

NKE opened at $76.35 on Tuesday. The company’s 50 day simple moving average is $74.80 and its 200 day simple moving average is $78.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $102.49. The stock has a market capitalization of $112.92 billion, a PE ratio of 23.56, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.10%. NIKE’s payout ratio is 49.38%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NKE. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. BMO Capital Markets increased their price objective on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $89.77.

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.