Flputnam Investment Management Co. Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Flputnam Investment Management Co. decreased its position in NIKE, Inc. (NYSE:NKE) by 21.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,738 shares of the footwear maker’s stock after selling 4,773 shares during the period. Flputnam Investment Management Co.’s holdings in NIKE were worth $1,926,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NKE. Impact Partnership Wealth LLC boosted its holdings in shares of NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares during the period. Iron Horse Wealth Management LLC raised its stake in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new position in NIKE in the fourth quarter worth approximately $29,000. Financial Freedom LLC bought a new position in NIKE in the fourth quarter worth approximately $29,000. Finally, Worth Asset Management LLC bought a new position in NIKE in the first quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE:NKE opened at $93.38 on Wednesday. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a market cap of $140.94 billion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.80 and a beta of 1.08. The firm’s fifty day moving average is $98.65 and its two-hundred day moving average is $103.48.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. Research analysts expect that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NKE shares. Wells Fargo & Company reduced their price objective on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Evercore ISI reduced their price objective on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. The Goldman Sachs Group reduced their price objective on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, HSBC reduced their price objective on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research note on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.26.

About NIKE

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.