King Luther Capital Management Corp Has $4.46 Million Stock Position in NIKE, Inc. $NKE

King Luther Capital Management Corp cut its position in NIKE, Inc. (NYSE:NKE) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,997 shares of the footwear maker’s stock after selling 14,052 shares during the period. King Luther Capital Management Corp’s holdings in NIKE were worth $4,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Brighton Jones LLC grew its position in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP acquired a new position in NIKE during the first quarter worth $311,000. United Bank lifted its stake in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of NIKE by 115.5% during the second quarter. Forum Financial Management LP now owns 10,016 shares of the footwear maker’s stock valued at $712,000 after buying an additional 5,368 shares during the last quarter. Finally, Freedom Investment Management Inc. bought a new stake in shares of NIKE during the second quarter worth about $262,000. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NKE. Deutsche Bank Aktiengesellschaft set a $67.00 target price on shares of NIKE in a report on Thursday, January 8th. Barclays reissued a “neutral” rating on shares of NIKE in a research note on Thursday, January 15th. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research report on Friday, December 19th. Finally, Guggenheim reissued a “buy” rating on shares of NIKE in a research report on Wednesday, December 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

NIKE Stock Performance

Shares of NKE opened at $65.47 on Friday. The stock has a 50 day moving average of $63.47 and a 200 day moving average of $67.47. The company has a market capitalization of $96.92 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 3.36 and a beta of 1.27. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last posted its quarterly earnings data 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. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, March 2nd. NIKE’s dividend payout ratio (DPR) is 96.47%.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 50,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was bought at an average price of $58.97 per share, for a total transaction of $2,948,500.00. Following the purchase, the director directly owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the acquisition, the chief executive officer directly owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 75,079 shares of company stock worth $4,449,887. Insiders own 0.80% of the company’s stock.

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).