Coronation Fund Managers Ltd. Lowers Holdings in NIKE, Inc. $NKE

Coronation Fund Managers Ltd. trimmed its position in NIKE, Inc. (NYSE:NKE) by 17.2% in the 3rd quarter, Holdings Channel reports. The firm owned 171,797 shares of the footwear maker’s stock after selling 35,610 shares during the quarter. Coronation Fund Managers Ltd.’s holdings in NIKE were worth $11,979,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cidel Asset Management Inc. boosted its stake in NIKE by 4.7% during the third quarter. Cidel Asset Management Inc. now owns 8,515 shares of the footwear maker’s stock valued at $594,000 after buying an additional 385 shares during the period. Murphy & Mullick Capital Management Corp increased its stake in NIKE by 8.7% in the 3rd quarter. Murphy & Mullick Capital Management Corp now owns 3,445 shares of the footwear maker’s stock worth $234,000 after acquiring an additional 277 shares during the last quarter. Ameritas Advisory Services LLC raised its holdings in shares of NIKE by 72.2% in the 3rd quarter. Ameritas Advisory Services LLC now owns 8,436 shares of the footwear maker’s stock valued at $588,000 after acquiring an additional 3,536 shares in the last quarter. IMA Advisory Services Inc. boosted its position in shares of NIKE by 0.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 27,192 shares of the footwear maker’s stock valued at $1,907,000 after acquiring an additional 192 shares during the last quarter. Finally, Lafayette Investments Inc. grew its holdings in shares of NIKE by 1.2% during the third quarter. Lafayette Investments Inc. now owns 45,670 shares of the footwear maker’s stock worth $3,185,000 after purchasing an additional 542 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan bought 8,691 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average cost of $57.54 per share, with a total value of $500,080.14. Following the completion of the purchase, the director directly owned 43,293 shares in the company, valued at $2,491,079.22. This represents a 25.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Elliott Hill purchased 16,388 shares of the company’s stock in a transaction on Monday, December 29th. The shares were purchased at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the transaction, the chief executive officer directly owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 75,079 shares of company stock worth $4,449,887. 0.80% of the stock is currently owned by insiders.

NIKE Stock Performance

NYSE NKE opened at $63.07 on Friday. The company has a 50-day simple moving average of $63.54 and a two-hundred day simple moving average of $67.78. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a market cap of $93.37 billion, a price-to-earnings ratio of 37.10, a PEG ratio of 3.23 and a beta of 1.27. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a $0.41 dividend. The ex-dividend date was Monday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.6%. NIKE’s dividend payout ratio is presently 96.47%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NKE. Williams Trading lowered their target price on shares of NIKE from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Argus lowered their price objective on shares of NIKE from $85.00 to $70.00 in a research report on Tuesday, December 23rd. Weiss Ratings upgraded shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Berenberg Bank reissued a “neutral” rating and issued a $70.00 target price on shares of NIKE in a research note on Friday, December 19th. Finally, The Goldman Sachs Group dropped their price target on NIKE from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $74.61.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).