RNC Capital Management LLC Has $919,000 Stock Position in NIKE, Inc. (NYSE:NKE)

RNC Capital Management LLC decreased its holdings in NIKE, Inc. (NYSE:NKE) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,466 shares of the footwear maker’s stock after selling 265 shares during the quarter. RNC Capital Management LLC’s holdings in NIKE were worth $919,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Impact Partnership Wealth LLC lifted its holdings in NIKE by 220.7% in the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the period. Financial Freedom LLC acquired a new position in NIKE in the fourth quarter valued at $29,000. Worth Asset Management LLC acquired a new position in NIKE in the first quarter valued at $32,000. Raleigh Capital Management Inc. lifted its holdings in NIKE by 134.2% in the third quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after buying an additional 216 shares during the period. Finally, Gyon Technologies Capital Management LP acquired a new position in shares of NIKE during the fourth quarter valued at about $36,000. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NKE shares. BMO Capital Markets upped their price objective on shares of NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a research report on Friday, February 16th. Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Barclays reduced their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a research report on Monday. Finally, TD Cowen reissued a “market perform” rating and set a $104.00 target price (down from $129.00) on shares of NIKE in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.75.

NIKE Price Performance

Shares of NIKE stock opened at $94.15 on Thursday. The firm has a market cap of $143.29 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.74 and a beta of 1.10. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $101.65 and its two-hundred day simple moving average is $103.69.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, equities analysts expect that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, March 1st. NIKE’s payout ratio is 43.53%.

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.