Wendell David Associates Inc. raised its position in Nike, Inc. (NYSE:NKE) by 1.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 254,025 shares of the footwear maker’s stock after acquiring an additional 2,850 shares during the period. Nike makes up about 2.3% of Wendell David Associates Inc.’s holdings, making the stock its 11th largest position. Wendell David Associates Inc.’s holdings in Nike were worth $13,171,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of NKE. Asset Planning Services Ltd. lifted its holdings in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC bought a new position in shares of Nike in the second quarter valued at approximately $136,000. Howe & Rusling Inc. lifted its holdings in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Nike by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 62.78% of the company’s stock.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
Shares of Nike, Inc. (NKE) traded up $0.70 on Monday, hitting $61.30. The company’s stock had a trading volume of 6,065,200 shares, compared to its average volume of 9,549,633. The company has a market capitalization of $100,011.99, a price-to-earnings ratio of 26.08, a PEG ratio of 2.87 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike, Inc. has a 52-week low of $50.35 and a 52-week high of $61.37.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. equities analysts forecast that Nike, Inc. will post 2.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. Nike’s payout ratio is 34.04%.
A number of research firms have recently weighed in on NKE. OTR Global upgraded Nike to a “positive” rating in a report on Monday. HSBC lowered Nike from a “buy” rating to a “hold” rating and raised their target price for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. Robert W. Baird restated a “buy” rating and issued a $65.00 target price on shares of Nike in a report on Friday, November 17th. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $58.81 price target on the stock. in a report on Friday, November 17th. Finally, B. Riley reiterated a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and twenty have given a buy rating to the company. Nike has an average rating of “Hold” and a consensus price target of $59.01.
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Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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