NIKE, Inc. (NYSE:NKE) Shares Sold by Hendershot Investments Inc.

Hendershot Investments Inc. decreased its stake in NIKE, Inc. (NYSE:NKE) by 29.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,127 shares of the footwear maker’s stock after selling 25,704 shares during the quarter. Hendershot Investments Inc.’s holdings in NIKE were worth $4,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Apollon Wealth Management LLC increased its position in shares of NIKE by 5.2% during the fourth quarter. Apollon Wealth Management LLC now owns 24,218 shares of the footwear maker’s stock worth $1,833,000 after purchasing an additional 1,203 shares in the last quarter. Beaumont Asset Management L.L.C. acquired a new stake in NIKE during the 4th quarter worth $654,000. Vest Financial LLC grew its holdings in shares of NIKE by 36.9% during the fourth quarter. Vest Financial LLC now owns 443,570 shares of the footwear maker’s stock worth $33,565,000 after buying an additional 119,449 shares in the last quarter. Cidel Asset Management Inc. raised its position in shares of NIKE by 14.6% in the fourth quarter. Cidel Asset Management Inc. now owns 6,465 shares of the footwear maker’s stock valued at $489,000 after buying an additional 822 shares during the last quarter. Finally, Conning Inc. lifted its stake in shares of NIKE by 7.3% in the fourth quarter. Conning Inc. now owns 67,663 shares of the footwear maker’s stock worth $5,120,000 after buying an additional 4,630 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of research reports. Robert W. Baird decreased their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Bank of America cut their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price target on shares of NIKE in a research report on Friday. Finally, Wells Fargo & Company reduced their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $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 can be accessed through this link. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $68.69 on Friday. The company has a market cap of $101.60 billion, a P/E ratio of 21.20, a PEG ratio of 2.34 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $107.43. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average price is $75.12 and its 200 day moving average price is $78.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.