Cohen Klingenstein LLC Sells 12,700 Shares of NIKE, Inc. (NYSE:NKE)

Cohen Klingenstein LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 39.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,800 shares of the footwear maker’s stock after selling 12,700 shares during the quarter. Cohen Klingenstein LLC’s holdings in NIKE were worth $1,498,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its position in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its holdings in NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after acquiring an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC grew its stake in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Legal & General Group Plc increased its position in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of 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 purchasing an additional 583,207 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.3 %

Shares of NKE stock opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. The business has a 50-day moving average of $75.87 and a 200 day moving average of $77.96. The stock has a market capitalization of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Evercore ISI cut their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NIKE in a report on Friday, December 20th. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Jefferies Financial Group upped their target price on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred 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 $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Company 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.