NIKE, Inc. (NYSE:NKE) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 32.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 211,904 shares of the footwear maker’s stock after selling 104,117 shares during the period. King Luther Capital Management Corp’s holdings in NIKE were worth $16,035,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter worth approximately $28,000. Caitlin John LLC grew its holdings in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new position in shares of NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC purchased a new position in NIKE in the 4th quarter worth $30,000. Finally, BankPlus Trust Department acquired a new stake in NIKE during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Down 2.9 %

Shares of NIKE stock opened at $74.21 on Wednesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $102.49. The firm has a market capitalization of $109.76 billion, a PE ratio of 22.90, a P/E/G ratio of 2.52 and a beta of 1.02. The firm’s 50-day moving average price is $74.77 and its 200 day moving average price is $78.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. During the same quarter last year, the business posted $1.03 earnings per share. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.16%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $75.00 to $115.00 in a report on Monday, February 24th. Evercore ISI reduced their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Barclays dropped their price objective on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Guggenheim reissued a “buy” rating and set a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value 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. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

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.