Folger Nolan Fleming Douglas Capital Management Inc. Sells 333 Shares of NIKE, Inc. (NYSE:NKE)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,353 shares of the footwear maker’s stock after selling 333 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in NIKE were worth $276,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NKE. Norges Bank bought a new position in shares of NIKE in the fourth quarter worth $1,126,288,000. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after buying an additional 8,898,591 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after buying an additional 2,416,601 shares in the last quarter. Finally, Capital World Investors raised its position in shares of NIKE by 10.3% in the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NKE shares. Cfra Research upgraded NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Royal Bank of Canada reduced their target price on NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Tuesday, May 20th. Robert W. Baird reduced their target price on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Berenberg Bank initiated coverage on NIKE in a research note on Tuesday, April 15th. They issued a “hold” rating and a $58.00 target price on the stock. Finally, Telsey Advisory Group reduced their target price on NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $80.26.

NIKE Stock Performance

Shares of NYSE:NKE opened at $62.81 on Friday. The company has a market cap of $92.90 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a 50-day moving average price of $59.23 and a 200-day moving average price of $68.85. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is currently 53.16%.

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.