King Luther Capital Management Corp lowered its holdings in shares of Nike Inc (NYSE:NKE) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,645 shares of the footwear maker’s stock after selling 48,803 shares during the period. King Luther Capital Management Corp’s holdings in Nike were worth $37,445,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Field & Main Bank bought a new stake in Nike during the fourth quarter worth about $100,000. Pinnacle Wealth Planning Services Inc. bought a new stake in Nike during the fourth quarter worth about $116,000. SeaCrest Wealth Management LLC bought a new position in shares of Nike in the fourth quarter worth approximately $128,000. First Dallas Securities Inc. bought a new position in shares of Nike in the fourth quarter worth approximately $128,000. Finally, Willingdon Wealth Management bought a new position in shares of Nike in the third quarter worth approximately $114,000. 65.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nike Inc (NYSE NKE) opened at $66.17 on Wednesday. Nike Inc has a twelve month low of $50.35 and a twelve month high of $70.25. The company has a market cap of $108,712.06, a P/E ratio of 28.93, a price-to-earnings-growth ratio of 3.02 and a beta of 0.68. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. Nike’s dividend payout ratio (DPR) is presently 34.63%.
Several research analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price on shares of Nike in a research note on Friday, December 22nd. Wedbush reiterated an “outperform” rating and issued a $74.00 target price on shares of Nike in a research note on Monday. Cowen set a $64.00 target price on shares of Nike and gave the stock a “hold” rating in a research note on Thursday, January 11th. Macquarie set a $72.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Credit Suisse Group assumed coverage on shares of Nike in a research note on Monday. They issued an “outperform” rating and a $78.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $66.10.
In other news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total value of $8,775,000.00. Following the completion of the sale, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at $97,683,950. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,511,120. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,057,896 shares of company stock valued at $68,424,217. Corporate insiders own 3.90% of the company’s stock.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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