King Luther Capital Management Corp Sells 14,052 Shares of NIKE, Inc. $NKE

King Luther Capital Management Corp cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 63,997 shares of the footwear maker’s stock after selling 14,052 shares during the quarter. King Luther Capital Management Corp’s holdings in NIKE were worth $4,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC grew its holdings in shares of NIKE by 697.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 228,889 shares of the footwear maker’s stock worth $15,960,000 after acquiring an additional 200,187 shares during the period. Soros Fund Management LLC boosted its position in shares of NIKE by 33.0% during the second quarter. Soros Fund Management LLC now owns 302,320 shares of the footwear maker’s stock valued at $21,477,000 after purchasing an additional 75,000 shares in the last quarter. Brighton Jones LLC boosted its position in shares of NIKE by 54.6% during the third quarter. Brighton Jones LLC now owns 104,791 shares of the footwear maker’s stock valued at $7,307,000 after purchasing an additional 37,019 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in NIKE by 238.8% in the second quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock worth $10,042,000 after purchasing an additional 99,638 shares during the period. Finally, Banco Santander S.A. raised its holdings in NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after purchasing an additional 48,764 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.2%

Shares of NYSE NKE opened at $65.47 on Friday. The firm’s 50 day moving average price is $63.47 and its 200-day moving average price is $67.47. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. The company has a market cap of $96.92 billion, a PE ratio of 38.51, a P/E/G ratio of 3.36 and a beta of 1.27.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s dividend payout ratio (DPR) is presently 96.47%.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,691 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the acquisition, the director owned 43,293 shares of the company’s stock, 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 accessible through this hyperlink. Also, Director Timothy D. Cook bought 50,000 shares of the stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the purchase, the director directly owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 75,079 shares of company stock worth $4,449,887 over the last quarter. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NKE. Argus lowered their price objective on NIKE from $85.00 to $70.00 in a research report on Tuesday, December 23rd. UBS Group reissued a “neutral” rating on shares of NIKE in a research report on Monday, January 5th. BTIG Research restated a “buy” rating and issued a $100.00 price objective on shares of NIKE in a report on Tuesday, January 27th. Daiwa Securities Group decreased their target price on shares of NIKE from $75.00 to $61.00 in a research note on Tuesday, December 23rd. Finally, KeyCorp lowered their target price on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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).