Tandem Investment Advisors Inc. Trims Position in NIKE, Inc. (NYSE:NKE)

Tandem Investment Advisors Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 481,715 shares of the footwear maker’s stock after selling 7,112 shares during the quarter. NIKE comprises about 2.1% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 27th biggest position. Tandem Investment Advisors Inc.’s holdings in NIKE were worth $52,300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Daiwa Securities Group Inc. grew its holdings in shares of NIKE by 40.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 271,586 shares of the footwear maker’s stock worth $29,485,000 after purchasing an additional 78,614 shares in the last quarter. Telos Capital Management Inc. grew its holdings in shares of NIKE by 1.9% during the fourth quarter. Telos Capital Management Inc. now owns 44,387 shares of the footwear maker’s stock worth $4,819,000 after purchasing an additional 844 shares in the last quarter. Rakuten Securities Inc. purchased a new position in shares of NIKE during the fourth quarter worth about $220,000. Slow Capital Inc. grew its holdings in shares of NIKE by 2.0% during the fourth quarter. Slow Capital Inc. now owns 23,508 shares of the footwear maker’s stock worth $2,557,000 after purchasing an additional 459 shares in the last quarter. Finally, TRUE Private Wealth Advisors grew its holdings in shares of NIKE by 3.5% during the fourth quarter. TRUE Private Wealth Advisors now owns 23,589 shares of the footwear maker’s stock worth $2,561,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NKE. Stifel Nicolaus cut their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Evercore ISI cut their target price on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a research note on Friday, February 16th. Finally, HSBC cut their target price on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Up 1.6 %

Shares of NIKE stock traded up $1.45 during midday trading on Wednesday, reaching $94.84. 10,179,037 shares of the company’s stock traded hands, compared to its average volume of 9,585,350. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a market cap of $143.15 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The stock has a 50 day moving average of $98.65 and a 200-day moving average of $103.48. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.56%. NIKE’s payout ratio is 43.53%.

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.