RNC Capital Management LLC Has $595,000 Stock Holdings in NIKE, Inc. $NKE

Key Points

• RNC Capital Management LLC increased its holdings in NIKE, Inc. by 65.7% during the 1st quarter, now owning 9,370 shares valued at approximately $595,000.
• Significant institutional investment in NIKE includes Vanguard Group increasing its stake by 4.6% and Goldman Sachs growing its position by 344.2%.
• NIKE recently reported earnings of $0.14 per share, exceeding analysts' expectations, while the company also declared a quarterly dividend of $0.40 per share set to be paid on October 1st.

RNC Capital Management LLC grew its position in NIKE, Inc. (NYSE:NKE - Free Report) by 65.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,370 shares of the footwear maker's stock after purchasing an additional 3,716 shares during the period. RNC Capital Management LLC's holdings in NIKE were worth $595,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP grew its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. grew its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its position in shares of NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after buying an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE grew its position in shares of NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock worth $652,995,000 after buying an additional 1,988,547 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Down 1.9%

NKE opened at $73.91 on Monday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The stock's fifty day simple moving average is $75.48 and its 200 day simple moving average is $67.85. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market cap of $109.16 billion, a PE ratio of 34.22, a price-to-earnings-growth ratio of 2.69 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results 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. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Wall Street Analyst Weigh In

NKE has been the subject of several research analyst reports. Jefferies Financial Group reiterated a "buy" rating and issued a $115.00 price objective on shares of NIKE in a research report on Friday, August 22nd. UBS Group initiated coverage on NIKE in a research report on Sunday, July 6th. They set a "buy" rating for the company. Argus raised NIKE to a "buy" rating in a research report on Sunday, July 6th. Truist Financial reduced their price target on NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Finally, The Goldman Sachs Group upped their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

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.

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