Koss Olinger Consulting LLC Has $858,000 Position in NIKE, Inc. $NKE

Key Points

• Koss Olinger Consulting LLC cut its NIKE stake by 68.2% in the fourth quarter, leaving it with 13,468 shares valued at about $858,000.
• Several other institutional investors also adjusted holdings, with heavyweights like Vanguard, Capital World Investors, and Geode Capital maintaining large positions; institutions and hedge funds now own 64.25% of NIKE.
• Insiders bought shares during the quarter, including Director Timothy D. Cook and CEO Elliott Hill, while analysts currently rate NIKE a Hold on average with a price target of $62.04.

Koss Olinger Consulting LLC lowered its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 68.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,468 shares of the footwear maker's stock after selling 28,937 shares during the period. Koss Olinger Consulting LLC's holdings in NIKE were worth $858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of NIKE by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock valued at $7,453,658,000 after purchasing an additional 1,702,342 shares in the last quarter. Capital World Investors increased its holdings in shares of NIKE by 0.7% in the third quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker's stock valued at $2,945,326,000 after purchasing an additional 286,615 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock valued at $1,677,251,000 after purchasing an additional 233,925 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $829,956,000. Finally, Flossbach Von Storch SE increased its holdings in shares of NIKE by 29.3% in the fourth quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker's stock valued at $812,514,000 after purchasing an additional 2,886,856 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity

In other news, Director Timothy D. Cook purchased 25,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director directly owned 130,480 shares of the company's stock, valued at approximately $5,536,266.40. This represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Elliott Hill purchased 23,660 shares of the firm's stock in a transaction dated Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 64,441 shares of company stock worth $2,734,204 over the last quarter. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NKE shares. Evercore reduced their price objective on shares of NIKE from $69.00 to $57.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $52.00 price objective (down from $76.00) on shares of NIKE in a research note on Wednesday, April 1st. Telsey Advisory Group reduced their price objective on shares of NIKE from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 1st. Royal Bank Of Canada reaffirmed a "buy" rating on shares of NIKE in a research note on Wednesday, April 1st. Finally, DA Davidson cut shares of NIKE from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $72.00 to $46.00 in a research note on Thursday, April 2nd. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $62.04.

NIKE Price Performance

Shares of NKE stock opened at $46.21 on Friday. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17. The stock has a market cap of $68.42 billion, a PE ratio of 30.60, a PEG ratio of 2.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm's 50 day moving average price is $45.75 and its two-hundred day moving average price is $56.76.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period last year, the firm posted $0.54 earnings per share. The business's quarterly revenue was up .1% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.5%. NIKE's payout ratio is 108.61%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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