Smith Anglin Financial LLC Has $525,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Smith Anglin Financial LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 17.4% during the fourth quarter, Holdings Channel reports. The firm owned 6,937 shares of the footwear maker’s stock after selling 1,465 shares during the period. Smith Anglin Financial LLC’s holdings in NIKE were worth $525,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC increased its stake in NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares in the last quarter. Stephens Consulting LLC increased its stake in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares in the last quarter. PSI Advisors LLC increased its stake in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. increased its stake in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its stake in NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NIKE stock opened at $72.05 on Wednesday. NIKE, Inc. has a 52-week low of $70.53 and a 52-week high of $107.43. The stock has a market capitalization of $106.57 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a fifty day moving average of $76.05 and a 200-day moving average of $78.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the company earned $1.03 EPS. The firm’s revenue was down 7.7% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm 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 is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. NIKE’s dividend payout ratio is 49.38%.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Barclays dropped their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Robert W. Baird dropped 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. Finally, Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

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.