Court Place Advisors LLC Sells 399 Shares of NIKE, Inc. (NYSE:NKE)

Court Place Advisors LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 4.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,543 shares of the footwear maker’s stock after selling 399 shares during the period. Court Place Advisors LLC’s holdings in NIKE were worth $646,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after buying an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC grew its holdings in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares in the last quarter. Fisher Asset Management LLC increased its position in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after buying an additional 117,187 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $75.69 on Tuesday. The stock’s 50-day moving average is $75.45 and its 200-day moving average is $77.94. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $111.96 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on NKE shares. Morgan Stanley decreased their price target on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus dropped their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Barclays reduced their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE 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.