CORDA Investment Management LLC. Decreases Stock Holdings in NIKE, Inc. (NYSE:NKE)

CORDA Investment Management LLC. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 3.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,449 shares of the footwear maker’s stock after selling 4,629 shares during the period. CORDA Investment Management LLC.’s holdings in NIKE were worth $15,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Norges Bank purchased a new stake in shares of NIKE during the 4th quarter worth approximately $1,903,194,000. Jennison Associates LLC raised its holdings in shares of NIKE by 30.8% during the 4th quarter. Jennison Associates LLC now owns 20,446,063 shares of the footwear maker’s stock worth $2,892,505,000 after acquiring an additional 4,812,150 shares in the last quarter. Morgan Stanley raised its holdings in shares of NIKE by 31.3% during the 4th quarter. Morgan Stanley now owns 19,496,387 shares of the footwear maker’s stock worth $2,758,153,000 after acquiring an additional 4,643,842 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of NIKE by 18.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,300,888 shares of the footwear maker’s stock worth $4,142,170,000 after acquiring an additional 4,468,961 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in shares of NIKE during the 4th quarter worth approximately $257,241,000. 64.69% of the stock is currently owned by institutional investors and hedge funds.

NIKE stock traded down $0.04 during midday trading on Friday, reaching $130.94. The company’s stock had a trading volume of 80,497 shares, compared to its average volume of 6,306,668. The stock’s 50-day simple moving average is $133.74. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.78 and a quick ratio of 2.02. NIKE, Inc. has a 52-week low of $93.44 and a 52-week high of $147.95. The firm has a market capitalization of $206.88 billion, a PE ratio of 61.96, a P/E/G ratio of 1.66 and a beta of 0.85.

NIKE (NYSE:NKE) last released its quarterly earnings results on Wednesday, March 17th. The footwear maker reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.15. NIKE had a return on equity of 34.41% and a net margin of 8.90%. The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.98 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that NIKE, Inc. will post 3.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 1st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Friday, May 28th. NIKE’s dividend payout ratio (DPR) is presently 59.46%.

Several equities analysts have recently weighed in on the company. Credit Suisse Group boosted their target price on NIKE from $162.00 to $176.00 and gave the company an “outperform” rating in a research report on Friday, March 19th. UBS Group cut their target price on NIKE from $183.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, April 22nd. Zacks Investment Research downgraded NIKE from a “buy” rating to a “hold” rating and set a $146.00 target price on the stock. in a research report on Monday, March 22nd. Cowen boosted their target price on NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a research report on Wednesday, March 17th. Finally, Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $140.00 to $192.00 in a research report on Tuesday, May 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $161.29.

In other news, CAO Hilary K. Krane sold 15,000 shares of the stock in a transaction dated Wednesday, April 14th. The stock was sold at an average price of $133.54, for a total value of $2,003,100.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter B. Henry sold 3,388 shares of the stock in a transaction dated Tuesday, April 20th. The shares were sold at an average price of $127.03, for a total value of $430,377.64. Following the completion of the transaction, the director now directly owns 2,282 shares in the company, valued at $289,882.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,821 shares of company stock valued at $20,450,895. 3.80% of the stock is currently owned by company insiders.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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