Harbour Capital Advisors LLC Sells 141 Shares of NIKE, Inc. (NYSE:NKE)

Harbour Capital Advisors LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,842 shares of the footwear maker’s stock after selling 141 shares during the quarter. Harbour Capital Advisors LLC’s holdings in NIKE were worth $575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC grew 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 grew its holdings in NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC increased its position in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the last quarter. Chapin Davis Inc. lifted its position in shares of 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 buying an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Up 1.9 %

Shares of NYSE:NKE traded up $1.36 during midday trading on Monday, hitting $72.56. 9,223,616 shares of the stock were exchanged, compared to its average volume of 11,683,097. The business’s 50-day moving average price is $76.29 and its 200 day moving average price is $78.25. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $107.33 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results 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 firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is currently 49.38%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. TD Cowen reduced their target price 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. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $93.00 to $80.00 in a report on Friday, December 20th. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Barclays lowered their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

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.