Livingston Group Asset Management CO operating as Southport Capital Management Lowers Position in NIKE, Inc. (NYSE:NKE)

Livingston Group Asset Management CO operating as Southport Capital Management cut its position in shares of NIKE, Inc. (NYSE:NKE) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,503 shares of the footwear maker’s stock after selling 618 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in NIKE were worth $1,671,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NKE. Amundi bought a new position in shares of NIKE during the 2nd quarter valued at about $615,556,000. Parnassus Investments CA bought a new position in shares of NIKE during the 2nd quarter valued at about $553,035,000. Alliancebernstein L.P. increased its position in shares of NIKE by 15.2% during the 2nd quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock valued at $3,566,329,000 after purchasing an additional 3,045,282 shares during the last quarter. Vontobel Asset Management Inc. increased its position in shares of NIKE by 32.2% during the 2nd quarter. Vontobel Asset Management Inc. now owns 3,316,232 shares of the footwear maker’s stock valued at $530,190,000 after purchasing an additional 806,859 shares during the last quarter. Finally, AKO Capital LLP increased its position in shares of NIKE by 33.4% during the 2nd quarter. AKO Capital LLP now owns 3,193,614 shares of the footwear maker’s stock valued at $493,381,000 after purchasing an additional 798,909 shares during the last quarter. Hedge funds and other institutional investors own 64.38% of the company’s stock.

Several equities analysts recently issued reports on NKE shares. Credit Suisse Group set a $183.00 price target on NIKE in a research report on Wednesday, September 22nd. JPMorgan Chase & Co. set a $192.00 price target on NIKE in a research report on Friday, September 24th. Zacks Investment Research lowered NIKE from a “buy” rating to a “hold” rating and set a $164.00 price target on the stock. in a research report on Tuesday, September 21st. Pivotal Research restated a “buy” rating and set a $175.00 price target on shares of NIKE in a research report on Tuesday, September 21st. Finally, Jefferies Financial Group set a $200.00 price target on NIKE and gave the stock a “buy” rating in a research report on Friday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $174.94.

In other NIKE news, CAO Hilary K. Krane sold 10,750 shares of the company’s stock in a transaction that occurred on Monday, November 15th. The stock was sold at an average price of $169.70, for a total transaction of $1,824,275.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Heidi O’neill sold 12,089 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $170.00, for a total value of $2,055,130.00. The disclosure for this sale can be found here. Insiders sold 247,589 shares of company stock worth $40,048,835 over the last quarter. 3.70% of the stock is owned by company insiders.

Shares of NIKE stock traded down $0.12 during trading hours on Thursday, hitting $172.03. The company’s stock had a trading volume of 4,637,831 shares, compared to its average volume of 6,407,635. The business has a 50 day moving average price of $161.13 and a two-hundred day moving average price of $155.92. NIKE, Inc. has a 12-month low of $125.44 and a 12-month high of $179.10. The company has a market cap of $272.29 billion, a PE ratio of 45.63, a PEG ratio of 3.22 and a beta of 0.93. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.38 and a current ratio of 3.19.

NIKE (NYSE:NKE) last posted its earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The company had revenue of $12.25 billion for the quarter, compared to the consensus estimate of $12.47 billion. NIKE had a return on equity of 48.98% and a net margin of 13.17%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. As a group, research analysts anticipate that NIKE, Inc. will post 3.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 28th. Investors of record on Monday, December 6th will be given a $0.305 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.28. This represents a $1.22 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Friday, December 3rd. NIKE’s payout ratio is currently 29.18%.

About NIKE

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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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