Godsey & Gibb Inc. Reduces Stake in NIKE, Inc. (NYSE:NKE)

Godsey & Gibb Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,680 shares of the footwear maker’s stock after selling 156 shares during the quarter. Godsey & Gibb Inc.’s holdings in NIKE were worth $127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Teachers Insurance & Annuity Association of America bought a new position in shares of NIKE during the 3rd quarter valued at approximately $30,000. VitalStone Financial LLC boosted its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC increased its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of NIKE in the third quarter valued at $52,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of NIKE in the 3rd quarter worth about $54,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on 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 owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NKE shares. Morgan Stanley cut their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Barclays dropped their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft decreased their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Finally, Wells Fargo & Company cut their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Trading Down 0.2 %

Shares of NYSE NKE opened at $71.04 on Thursday. NIKE, Inc. has a 1-year low of $70.53 and a 1-year high of $107.43. The business has a fifty day moving average price of $76.05 and a 200 day moving average price of $78.06. The stock has a market capitalization of $105.08 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.03 EPS. Equities research analysts expect that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

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.