RNC Capital Management LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

RNC Capital Management LLC cut its holdings in NIKE, Inc. (NYSE:NKEGet Rating) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,701 shares of the footwear maker’s stock after selling 1,060 shares during the quarter. RNC Capital Management LLC’s holdings in NIKE were worth $617,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Alliancebernstein L.P. raised its stake in NIKE by 6.8% in the third quarter. Alliancebernstein L.P. now owns 24,647,237 shares of the footwear maker’s stock valued at $3,579,518,000 after buying an additional 1,562,707 shares during the last quarter. Geode Capital Management LLC raised its stake in NIKE by 2.1% in the third quarter. Geode Capital Management LLC now owns 20,842,176 shares of the footwear maker’s stock valued at $3,018,705,000 after buying an additional 418,833 shares during the last quarter. Morgan Stanley raised its stake in shares of NIKE by 3.2% in the second quarter. Morgan Stanley now owns 17,340,384 shares of the footwear maker’s stock worth $2,678,912,000 after purchasing an additional 543,451 shares during the last quarter. Capital World Investors raised its stake in shares of NIKE by 1.1% in the third quarter. Capital World Investors now owns 15,605,476 shares of the footwear maker’s stock worth $2,266,403,000 after purchasing an additional 167,898 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of NIKE by 3.0% in the third quarter. Janus Henderson Group PLC now owns 10,120,729 shares of the footwear maker’s stock worth $1,469,838,000 after purchasing an additional 296,033 shares during the last quarter. Institutional investors own 64.58% of the company’s stock.

In related news, Chairman Mark G. Parker sold 100,000 shares of the stock in a transaction on Wednesday, January 26th. The shares were sold at an average price of $146.39, for a total value of $14,639,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.

Shares of NYSE NKE traded up $5.46 during mid-day trading on Tuesday, reaching $137.09. The company had a trading volume of 273,680 shares, compared to its average volume of 7,078,618. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64. The firm has a 50 day simple moving average of $133.17 and a two-hundred day simple moving average of $151.01. The stock has a market cap of $216.78 billion, a P/E ratio of 34.92, a PEG ratio of 2.57 and a beta of 0.96. NIKE, Inc. has a 52-week low of $116.75 and a 52-week high of $179.10.

NIKE (NYSE:NKEGet Rating) last posted its earnings results on Monday, March 21st. The footwear maker reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.16. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.61 billion. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. On average, equities analysts expect that NIKE, Inc. will post 3.72 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Monday, March 7th were given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, March 4th. NIKE’s dividend payout ratio (DPR) is 32.19%.

Several research analysts have recently issued reports on the company. Credit Suisse Group raised their price objective on NIKE from $160.00 to $165.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 22nd. UBS Group set a $173.00 target price on NIKE in a report on Tuesday, March 22nd. StockNews.com initiated coverage on NIKE in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wedbush reaffirmed an “outperform” rating and set a $163.00 target price on shares of NIKE in a report on Tuesday, March 22nd. Finally, The Goldman Sachs Group set a $177.00 target price on NIKE in a report on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Buy” and a consensus target price of $170.86.

About NIKE (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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