Fulton Breakefield Broenniman LLC Sells 2,085 Shares of NIKE, Inc. $NKE

Fulton Breakefield Broenniman LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 32.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,248 shares of the footwear maker’s stock after selling 2,085 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in NIKE were worth $302,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. AMI Investment Management Inc. boosted its holdings in shares of NIKE by 14.6% during the 2nd quarter. AMI Investment Management Inc. now owns 26,462 shares of the footwear maker’s stock valued at $1,880,000 after acquiring an additional 3,364 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of NIKE by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 56,237 shares of the footwear maker’s stock valued at $3,995,000 after acquiring an additional 958 shares in the last quarter. Optas LLC boosted its holdings in shares of NIKE by 13.1% during the 2nd quarter. Optas LLC now owns 4,385 shares of the footwear maker’s stock valued at $312,000 after acquiring an additional 507 shares in the last quarter. Eagle Strategies LLC acquired a new stake in shares of NIKE during the 2nd quarter valued at $203,000. Finally, PARK CIRCLE Co boosted its holdings in shares of NIKE by 16.7% during the 2nd quarter. PARK CIRCLE Co now owns 1,400 shares of the footwear maker’s stock valued at $99,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a report on Thursday, September 25th. Hsbc Global Res raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Evercore ISI cut their target price on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, June 24th. Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. Finally, UBS Group set a $71.00 target price on NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

NIKE Price Performance

NIKE stock opened at $69.10 on Thursday. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $74.12 and its 200 day simple moving average is $67.29. The company has a market cap of $102.05 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.52 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s dividend payout ratio is presently 82.05%.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 200,378 shares of company stock worth $14,794,264. Insiders own 0.80% of the company’s stock.

About NIKE

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.