Nachman Norwood & Parrott Inc boosted its position in shares of Nike Inc (NYSE:NKE) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,978 shares of the footwear maker’s stock after acquiring an additional 345 shares during the quarter. Nachman Norwood & Parrott Inc’s holdings in Nike were worth $336,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Next Capital Management LLC acquired a new position in shares of Nike in the fourth quarter valued at about $26,000. Gemmer Asset Management LLC grew its stake in shares of Nike by 54.2% in the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Clarfeld Financial Advisors LLC acquired a new position in shares of Nike in the fourth quarter valued at about $34,000. Acima Private Wealth LLC acquired a new position in shares of Nike in the fourth quarter valued at about $39,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Nike in the fourth quarter valued at about $44,000. 65.62% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Mark G. Parker sold 150,000 shares of Nike stock in a transaction on Friday, January 18th. The shares were sold at an average price of $80.00, for a total value of $12,000,000.00. Following the completion of the sale, the chief executive officer now owns 1,687,863 shares of the company’s stock, valued at approximately $135,029,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. In the last three months, insiders sold 426,500 shares of company stock valued at $35,107,665. 3.90% of the stock is currently owned by insiders.
Shares of NKE stock opened at $87.80 on Wednesday. The company has a market cap of $136.47 billion, a PE ratio of 36.28, a P/E/G ratio of 2.61 and a beta of 0.67. Nike Inc has a 52 week low of $64.99 and a 52 week high of $88.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.65 by $0.03. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. On average, sell-side analysts expect that Nike Inc will post 2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, March 1st. Nike’s payout ratio is currently 36.36%.
NKE has been the topic of several research reports. Morgan Stanley set a $103.00 price target on shares of Nike and gave the company a “buy” rating in a research note on Friday, March 22nd. Bank of America set a $55.00 price objective on shares of Nike and gave the stock a “sell” rating in a research note on Sunday, December 30th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $85.00 price objective on shares of Nike in a research note on Thursday, December 27th. Robert W. Baird downgraded shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 price objective on the stock. in a research note on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Telsey Advisory Group increased their price objective on shares of Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $87.10.
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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