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


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RNC Capital Management LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,201 shares of the footwear maker’s stock after selling 9,252 shares during the quarter. RNC Capital Management LLC’s holdings in NIKE were worth $3,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Chemung Canal Trust Co. raised its position in NIKE by 11.4% in the 4th quarter. Chemung Canal Trust Co. now owns 34,487 shares of the footwear maker’s stock worth $4,879,000 after purchasing an additional 3,518 shares during the period. IFM Investors Pty Ltd raised its position in NIKE by 17.0% in the 4th quarter. IFM Investors Pty Ltd now owns 119,847 shares of the footwear maker’s stock worth $16,955,000 after purchasing an additional 17,391 shares during the period. Norway Savings Bank raised its position in NIKE by 6.1% in the 4th quarter. Norway Savings Bank now owns 8,902 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 515 shares during the period. Redpoint Investment Management Pty Ltd raised its position in NIKE by 6.3% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 31,730 shares of the footwear maker’s stock worth $4,489,000 after purchasing an additional 1,888 shares during the period. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its position in NIKE by 8.0% in the 4th quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 12,385 shares of the footwear maker’s stock worth $1,752,000 after purchasing an additional 918 shares during the period. Institutional investors own 55.61% of the company’s stock.

NYSE:NKE traded down $2.01 during mid-day trading on Wednesday, hitting $143.04. 3,212,191 shares of the company’s stock were exchanged, compared to its average volume of 4,610,482. NIKE, Inc. has a one year low of $60.00 and a one year high of $147.95. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.77. The business has a fifty day moving average price of $139.88 and a 200 day moving average price of $120.86. The company has a market cap of $224.55 billion, a PE ratio of 85.65, a P/E/G ratio of 2.76 and a beta of 0.84.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $11.24 billion during the quarter, compared to analysts’ expectations of $10.51 billion. NIKE had a net margin of 7.20% and a return on equity of 34.62%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 2.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 29th. Shareholders of record on Monday, December 7th were issued a $0.275 dividend. The ex-dividend date of this dividend was Friday, December 4th. This is a boost from NIKE’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 0.77%. NIKE’s payout ratio is 59.46%.

NKE has been the topic of a number of recent analyst reports. Pivotal Research raised their price target on shares of NIKE from $118.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. Jefferies Financial Group set a $140.00 price target on shares of NIKE and gave the stock a “neutral” rating in a report on Monday, January 4th. Bank of America raised their price target on shares of NIKE from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Cowen raised their price target on shares of NIKE from $150.00 to $165.00 in a report on Tuesday, December 8th. Finally, Royal Bank of Canada set a $160.00 price target on shares of NIKE and gave the stock a “buy” rating in a report on Monday, January 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $153.85.

In other NIKE news, Director Timothy D. Cook sold 52,000 shares of NIKE stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $133.91, for a total value of $6,963,320.00. Following the completion of the transaction, the director now directly owns 55,433 shares of the company’s stock, valued at $7,423,033.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Hilary K. Krane sold 5,670 shares of NIKE stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $123.30, for a total transaction of $699,111.00. The disclosure for this sale can be found here. Insiders sold 450,170 shares of company stock valued at $63,160,981 over the last ninety days. Corporate insiders own 3.80% of the company’s stock.

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, 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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