CORDA Investment Management LLC. Sells 3,390 Shares of NIKE, Inc. (NYSE:NKE)

CORDA Investment Management LLC. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,059 shares of the footwear maker’s stock after selling 3,390 shares during the period. CORDA Investment Management LLC.’s holdings in NIKE were worth $17,003,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FFT Wealth Management LLC purchased a new stake in NIKE during the 2nd quarter valued at $26,000. Princeton Global Asset Management LLC boosted its stake in NIKE by 39.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 70 shares during the last quarter. Rockbridge Investment Management LCC boosted its stake in NIKE by 43.9% during the 2nd quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 75 shares during the last quarter. Baldrige Asset Management LLC purchased a new stake in NIKE during the 2nd quarter valued at $41,000. Finally, Pflug Koory LLC purchased a new position in shares of NIKE in the 2nd quarter worth $51,000. 64.45% of the stock is owned by institutional investors.

NYSE:NKE traded down $2.18 during mid-day trading on Monday, hitting $154.24. The company’s stock had a trading volume of 220,910 shares, compared to its average volume of 6,258,260. NIKE, Inc. has a 1 year low of $111.74 and a 1 year high of $174.38. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.72 and a quick ratio of 2.01. The stock has a market cap of $243.98 billion, a price-to-earnings ratio of 42.99, a PEG ratio of 2.49 and a beta of 0.87. The business’s fifty day moving average is $165.57 and its two-hundred day moving average is $147.08.

NIKE (NYSE:NKE) last posted its earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.42. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The business had revenue of $12.30 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the company posted ($0.51) EPS. The company’s revenue for the quarter was up 94.8% on a year-over-year basis. Analysts anticipate that NIKE, Inc. will post 4.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Monday, August 30th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Friday, August 27th. NIKE’s payout ratio is currently 30.90%.

A number of research firms have recently issued reports on NKE. Pivotal Research raised their price target on NIKE from $167.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $213.00 target price on shares of NIKE in a report on Friday. Robert W. Baird raised their target price on NIKE from $150.00 to $192.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Royal Bank of Canada raised their target price on NIKE from $165.00 to $183.00 and gave the stock an “outperform” rating in a report on Friday, June 25th. Finally, Bank of America raised their price target on NIKE from $150.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, June 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have given a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Buy” and a consensus price target of $173.03.

In other NIKE news, COO Andrew Campion sold 7,125 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $1,221,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Friend sold 3,546 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $608,139.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 379,671 shares of company stock valued at $60,634,427. Insiders own 3.70% of the company’s stock.

NIKE Profile

NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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