RK Asset Management LLC Sells 1,780 Shares of NIKE, Inc. (NYSE:NKE)

RK Asset Management LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,488 shares of the footwear maker’s stock after selling 1,780 shares during the quarter. NIKE comprises 3.6% of RK Asset Management LLC’s holdings, making the stock its 18th largest holding. RK Asset Management LLC’s holdings in NIKE were worth $4,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Loomis Sayles & Co. L P boosted its holdings in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares in the last quarter. State Street Corp boosted its stake in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Holocene Advisors LP purchased a new position in NIKE in the third quarter worth $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of NIKE during the third quarter worth $144,927,000. Finally, Renaissance Technologies LLC increased its position in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were bought at an average cost 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 approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Bank of America decreased their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, TD Cowen lowered their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.58.

NIKE Stock Down 0.5 %

Shares of NIKE stock traded down $0.36 during trading on Friday, hitting $73.31. 10,058,011 shares of the stock were exchanged, compared to its average volume of 10,470,705. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm’s 50-day moving average price is $77.02 and its 200 day moving average price is $79.46. The stock has a market cap of $109.92 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. As a group, analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. NIKE’s dividend payout ratio is presently 49.38%.

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.