Fulton Breakefield Broenniman LLC Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Fulton Breakefield Broenniman LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 89.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,333 shares of the footwear maker's stock after selling 52,412 shares during the period. Fulton Breakefield Broenniman LLC's holdings in NIKE were worth $402,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Wellington Management Group LLP increased its position in shares of NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the period. Geode Capital Management LLC grew its stake in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after acquiring an additional 347,178 shares in the last quarter. Capital World Investors grew its stake in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after acquiring an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp grew its stake in NIKE by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after acquiring an additional 620,214 shares in the last quarter. Finally, Norges Bank purchased a new position in NIKE during the fourth quarter valued at approximately $1,126,288,000. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. boosted their price objective on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. Finally, Berenberg Bank started coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average target price of $77.15.

NIKE Price Performance

NYSE NKE traded down $1.96 on Friday, reaching $72.66. 12,749,362 shares of the company's stock traded hands, compared to its average volume of 15,235,433. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a 50-day simple moving average of $64.06 and a 200 day simple moving average of $67.33. The stock has a market cap of $107.47 billion, a PE ratio of 33.64, a P/E/G ratio of 2.63 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

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.