Alpha Cubed Investments LLC Sells 310 Shares of NIKE, Inc. (NYSE:NKE)

Alpha Cubed Investments LLC decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,845 shares of the footwear maker’s stock after selling 310 shares during the period. Alpha Cubed Investments LLC’s holdings in NIKE were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Loomis Sayles & Co. L P boosted its position in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock valued at $228,165,000 after buying an additional 2,357,745 shares during the last quarter. State Street Corp boosted its holdings in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of NIKE during the third quarter worth about $148,635,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of NIKE during the third quarter worth about $144,927,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE 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 completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Up 3.4 %

NIKE stock opened at $73.22 on Wednesday. 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 stock has a market capitalization of $108.30 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.25 and a beta of 1.02. The business has a 50 day simple moving average of $75.66 and a 200-day simple moving average of $77.92. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. 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 yield of 2.19%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analyst Weigh In

A number of analysts recently commented on NKE shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Robert W. Baird lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Jefferies Financial Group upped their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price target on shares of NIKE in a research report on Thursday, December 26th. Finally, Bank of America dropped their price target on NIKE from $95.00 to $90.00 and set a “buy” 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Company 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.