Truvestments Capital LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Truvestments Capital LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,895 shares of the footwear maker’s stock after selling 225 shares during the quarter. Truvestments Capital LLC’s holdings in NIKE were worth $143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NKE. JNBA Financial Advisors grew its stake in shares of NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after acquiring an additional 131 shares during the last quarter. Frisch Financial Group Inc. boosted its position in NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after buying an additional 136 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its position in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC boosted its position in NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock valued at $1,136,000 after buying an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its position in NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.7 %

Shares of NKE stock opened at $73.62 on Thursday. 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 company has a market cap of $108.89 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.52 and a beta of 1.02. The stock has a 50 day simple moving average of $74.73 and a 200-day simple moving average of $77.99. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $102.49.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping 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 business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NKE shares. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Bank of America dropped their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and dropped their target price for the company from $102.00 to $72.00 in a research report on Friday, February 7th. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Finally, DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction 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 completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was 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.

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.