Fifth Third Bancorp cut its position in Nike Inc (NYSE:NKE) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,008,232 shares of the footwear maker’s stock after selling 672 shares during the quarter. Fifth Third Bancorp owned about 0.06% of Nike worth $85,417,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. BW Gestao de Investimentos Ltda. purchased a new position in Nike during the third quarter worth about $847,000. Algert Global LLC purchased a new position in Nike during the third quarter worth about $3,413,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in Nike during the third quarter worth about $299,000. King Luther Capital Management Corp grew its position in Nike by 9.6% during the third quarter. King Luther Capital Management Corp now owns 836,624 shares of the footwear maker’s stock worth $70,879,000 after buying an additional 73,316 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. purchased a new position in Nike during the third quarter worth about $678,000. Hedge funds and other institutional investors own 64.09% of the company’s stock.

Several research firms recently commented on NKE. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Piper Jaffray Companies set a $93.00 target price on Nike and gave the stock a “buy” rating in a research report on Monday, September 17th. Macquarie set a $98.00 target price on Nike and gave the stock a “buy” rating in a research report on Tuesday, November 20th. JPMorgan Chase & Co. boosted their target price on Nike from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Finally, Barclays restated a “buy” rating and set a $100.00 target price on shares of Nike in a research report on Thursday, September 27th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $85.85.

In related news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the completion of the sale, the executive vice president now directly owns 104,737 shares in the company, valued at approximately $8,708,881.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the sale, the director now owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $4,219,350 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Shares of NKE stock opened at $75.54 on Friday. The stock has a market cap of $120.36 billion, a P/E ratio of 30.32, a P/E/G ratio of 2.37 and a beta of 0.76. Nike Inc has a 1-year low of $59.65 and a 1-year high of $86.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. Nike’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. As a group, equities research analysts expect that Nike Inc will post 2.63 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, November 30th. This is a boost from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.16%. Nike’s dividend payout ratio is currently 36.36%.

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About Nike

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: 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, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and 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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