Coronation Fund Managers Ltd. Sells 35,610 Shares of NIKE, Inc. $NKE

Coronation Fund Managers Ltd. reduced its stake in NIKE, Inc. (NYSE:NKE) by 17.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of NIKE during the second quarter valued at about $31,000. Guerra Advisors Inc purchased a new stake in NIKE in the 3rd quarter valued at about $34,000. Abich Financial Wealth Management LLC bought a new position in shares of NIKE during the 3rd quarter worth approximately $43,000. NewSquare Capital LLC boosted its stake in shares of NIKE by 54.4% in the 2nd quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after buying an additional 258 shares during the last quarter. Finally, Field & Main Bank boosted its stake in shares of NIKE by 36.4% in the 2nd quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock worth $53,000 after buying an additional 200 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Guggenheim reiterated a “buy” rating on shares of NIKE in a report on Wednesday, December 31st. Sanford C. Bernstein reaffirmed a “buy” rating and set a $85.00 target price on shares of NIKE in a research report on Tuesday, January 6th. KeyCorp cut their price target on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. DZ Bank restated a “buy” rating on shares of NIKE in a report on Friday, December 19th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $100.00 price objective on shares of NIKE in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.61.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,691 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average price of $57.54 per share, with a total value of $500,080.14. Following the acquisition, the director owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Timothy D. Cook bought 50,000 shares of NIKE stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director directly owned 105,480 shares in the company, valued at approximately $6,220,155.60. This represents a 90.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 75,079 shares of company stock valued at $4,449,887 over the last three months. Company insiders own 0.80% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $63.07 on Friday. The company has a market cap of $93.37 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 3.23 and a beta of 1.27. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The company has a quick ratio of 1.40, a current ratio of 2.06 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $63.54 and its two-hundred day simple moving average is $67.78.

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

NIKE Increases Dividend

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

About NIKE

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).