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

RNC Capital Management LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,466 shares of the footwear maker’s stock after selling 265 shares during the period. RNC Capital Management LLC’s holdings in NIKE were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Freedom LLC purchased a new stake in NIKE during the 4th quarter worth approximately $29,000. Impact Partnership Wealth LLC increased its stake in NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares in the last quarter. Worth Asset Management LLC purchased a new stake in NIKE during the 1st quarter worth approximately $32,000. Gyon Technologies Capital Management LP purchased a new stake in shares of NIKE in the fourth quarter valued at approximately $36,000. Finally, VitalStone Financial LLC grew its position in shares of NIKE by 61.7% in the second quarter. VitalStone Financial LLC now owns 312 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of NIKE in a research report on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a research report on Friday, February 16th. Jefferies Financial Group reduced their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Telsey Advisory Group cut their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.75.

NIKE Stock Up 1.7 %

NKE opened at $94.15 on Thursday. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market cap of $143.29 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.74 and a beta of 1.10. The stock’s 50 day moving average price is $101.65 and its 200 day moving average price is $103.69.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, research analysts predict that NIKE, Inc. will post 3.7 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.