Chesley Taft & Associates LLC boosted its holdings in shares of Nike Inc (NYSE:NKE) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,119 shares of the footwear maker’s stock after acquiring an additional 490 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Nike were worth $1,788,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of NKE. BDO Wealth Advisors LLC raised its holdings in Nike by 1,044.3% during the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after buying an additional 1,274 shares during the last quarter. Resources Management Corp CT ADV purchased a new stake in Nike during the third quarter worth about $113,000. Stelac Advisory Services LLC purchased a new stake in Nike during the third quarter worth about $115,000. Polaris Greystone Financial Group LLC purchased a new stake in Nike during the third quarter worth about $119,000. Finally, Global Trust Asset Management LLC increased its holdings in Nike by 1,253.8% during the third quarter. Global Trust Asset Management LLC now owns 1,760 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,630 shares during the last quarter. 64.71% of the stock is currently owned by hedge funds and other institutional investors.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $124,361,745.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. In the last three months, insiders sold 650,000 shares of company stock valued at $49,562,000. 3.90% of the stock is owned by insiders.
A number of brokerages recently weighed in on NKE. Oppenheimer raised shares of Nike from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a research note on Thursday, October 18th. HSBC reaffirmed a “neutral” rating and issued a $92.00 target price on shares of Nike in a research note on Wednesday, October 3rd. Morgan Stanley set a $103.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, December 11th. JPMorgan Chase & Co. set a $85.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Wednesday, January 2nd. Finally, Cowen raised shares of Nike from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $90.00 in a research note on Tuesday, January 22nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $83.43.
Nike stock traded up $1.06 during mid-day trading on Wednesday, reaching $81.28. The stock had a trading volume of 5,199,682 shares, compared to its average volume of 7,220,978. The stock has a market cap of $126.78 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.48 and a beta of 0.69. Nike Inc has a one year low of $62.09 and a one year high of $86.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the previous year, the business posted $0.46 EPS. Nike’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Nike Inc will post 2.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd were given a $0.22 dividend. This is a positive change from Nike’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.08%. Nike’s payout ratio is 36.36%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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