Jennison Associates LLC lessened its position in shares of Nike Inc (NYSE:NKE) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,429,468 shares of the footwear maker’s stock after selling 59,153 shares during the quarter. Jennison Associates LLC owned about 0.15% of Nike worth $125,968,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Planning Services Ltd. increased 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 worth $126,000 after acquiring an additional 7 shares in the last quarter. Atlantic Trust LLC bought a new position in shares of Nike during the second quarter worth about $136,000. Kistler Tiffany Companies LLC grew its holdings in shares of Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares in the last quarter. Howe & Rusling Inc. grew its holdings in shares of Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after buying an additional 2,329 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Nike by 7.8% during 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 during the last quarter. 62.67% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on NKE. Goldman Sachs Group set a $59.00 price target on Nike and gave the company a “neutral” rating in a research report on Thursday, December 14th. HSBC cut Nike from a “buy” rating to a “hold” rating and lifted their price target for the stock from $58.95 to $62.00 in a report on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a report on Sunday, December 31st. They set a “buy” rating and a $72.00 price target for the company. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, B. Riley lifted their price target on Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have given a buy rating to the company. Nike currently has an average rating of “Hold” and an average target price of $64.40.
In related news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total value of $8,775,000.00. Following the transaction, the chairman now owns 1,502,830 shares in the company, valued at $97,683,950. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 967,896 shares of company stock valued at $60,257,267. 3.90% of the stock is currently owned by corporate insiders.
Shares of Nike Inc (NYSE:NKE) opened at $64.29 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The company has a market capitalization of $104,890.00, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 2.90 and a beta of 0.64. Nike Inc has a twelve month low of $50.35 and a twelve month high of $65.18.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 EPS. sell-side analysts predict that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a $0.20 dividend. The ex-dividend date was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. Nike’s dividend payout ratio is currently 34.63%.
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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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