Cullinan Associates Inc. Sells 4,335 Shares of NIKE, Inc. (NYSE:NKE)

Cullinan Associates Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,020 shares of the footwear maker's stock after selling 4,335 shares during the quarter. Cullinan Associates Inc.'s holdings in NIKE were worth $758,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of NIKE by 3.3% in the third 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 during the period. Wellington Management Group LLP boosted its position in shares of NIKE by 5.1% in the third 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 during the period. Geode Capital Management LLC boosted its position in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Fisher Asset Management LLC boosted its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after acquiring an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker's stock worth $760,716,000 after acquiring an additional 117,187 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. DA Davidson upgraded shares of NIKE to a "strong-buy" rating in a research report on Monday, December 23rd. Morgan Stanley decreased their price target on shares of NIKE from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company reduced their target price on shares of NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a research note on Monday, December 16th. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a research note on Friday, December 20th. Finally, Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.62.

NIKE Trading Down 2.6 %

Shares of NKE stock traded down $1.89 on Friday, reaching $69.85. The company had a trading volume of 14,631,591 shares, compared to its average volume of 12,585,362. NIKE, Inc. has a 12 month low of $69.33 and a 12 month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $103.32 billion, a PE ratio of 21.56, a PEG ratio of 2.50 and a beta of 1.01. The company has a 50-day moving average of $75.32 and a 200-day moving average of $78.05.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.03 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.29%. This is a positive change from NIKE's previous quarterly dividend of $0.37. NIKE's dividend payout ratio (DPR) is currently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company's stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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.