NIKE, Inc. (NYSE:NKE) Position Boosted by RNC Capital Management LLC

RNC Capital Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE – Get Rating) by 183.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,496 shares of the footwear maker’s stock after buying an additional 6,149 shares during the quarter. RNC Capital Management LLC’s holdings in NIKE were worth $1,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Turim 21 Investimentos Ltda. grew its holdings in NIKE by 821.1% in the 3rd quarter. Turim 21 Investimentos Ltda. now owns 350 shares of the footwear maker’s stock worth $29,000 after buying an additional 312 shares in the last quarter. Worth Asset Management LLC bought a new position in NIKE in the 1st quarter worth approximately $32,000. Ameliora Wealth Management Ltd. bought a new position in NIKE in the 3rd quarter worth approximately $33,000. Moisand Fitzgerald Tamayo LLC lifted its position in NIKE by 32.8% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 482 shares of the footwear maker’s stock worth $40,000 after purchasing an additional 119 shares during the period. Finally, Penserra Capital Management LLC acquired a new stake in NIKE in the third quarter worth approximately $42,000. 63.20% of the stock is owned by institutional investors.

NIKE Trading Down 0.2 %

NYSE NKE opened at $120.39 on Friday. NIKE, Inc. has a 1-year low of $82.22 and a 1-year high of $139.86. The company has a current ratio of 2.69, a quick ratio of 1.78 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $186.67 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.86 and a beta of 1.10. The firm’s fifty day simple moving average is $123.67 and its 200-day simple moving average is $109.92.

NIKE (NYSE:NKE – Get Rating) last posted its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. NIKE had a net margin of 11.47% and a return on equity of 36.83%. The business had revenue of $13.32 billion for the quarter, compared to the consensus estimate of $12.61 billion. As a group, sell-side analysts anticipate that NIKE, Inc. will post 3.15 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 6th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.13%. The ex-dividend date is Friday, March 3rd. NIKE’s payout ratio is 38.31%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on NIKE from $128.00 to $156.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Jefferies Financial Group set a $140.00 target price on NIKE in a research report on Monday, January 2nd. Royal Bank of Canada set a $145.00 target price on NIKE in a research report on Friday. UBS Group set a $151.00 target price on NIKE in a research report on Monday, March 13th. Finally, Cowen increased their price objective on NIKE from $114.00 to $118.00 in a research report on Tuesday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $129.66.

Insiders Place Their Bets

In other NIKE news, Director Peter B. Henry bought 557 shares of the stock in a transaction on Tuesday, February 7th. The shares were purchased at an average cost of $125.45 per share, with a total value of $69,875.65. Following the completion of the transaction, the director now directly owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NIKE news, Director Peter B. Henry bought 557 shares of the stock in a transaction on Tuesday, February 7th. The shares were purchased at an average cost of $125.45 per share, with a total value of $69,875.65. Following the completion of the transaction, the director now directly owns 4,062 shares of the company’s stock, valued at approximately $509,577.90. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 5,000 shares of the stock in a transaction on Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now directly owns 60,213 shares in the company, valued at $7,466,412. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

About NIKE

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.