Fulton Breakefield Broenniman LLC Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Fulton Breakefield Broenniman LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,745 shares of the footwear maker’s stock after selling 6,348 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in NIKE were worth $4,445,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NKE. State Street Corp lifted its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP lifted its holdings in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC increased its stake in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the last quarter. Fisher Asset Management LLC increased its position 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 valued at $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Barclays cut their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Robert W. Baird cut their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Morgan Stanley lowered their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen research 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 company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.96.

NIKE Stock Performance

NYSE NKE opened at $74.38 on Wednesday. The company has a market cap of $110.02 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.36 and a beta of 1.02. The stock’s 50 day simple moving average is $75.47 and its 200-day simple moving average is $77.95. NIKE, Inc. has a 1-year low of $70.32 and a 1-year high of $107.43. 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 (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the business posted $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

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.