Nike Inc (NKE) Position Cut by Westpac Banking Corp

Westpac Banking Corp reduced its stake in Nike Inc (NYSE:NKE) by 38.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,629 shares of the footwear maker’s stock after selling 52,506 shares during the period. Westpac Banking Corp’s holdings in Nike were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Asset Planning Services Ltd. boosted its holdings in shares of Nike by 0.3% in the 2nd 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 acquired a new position in shares of Nike in the 2nd quarter worth approximately $136,000. Howe & Rusling Inc. boosted its holdings in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares in the last quarter. Kistler Tiffany Companies LLC boosted its holdings in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Nike by 7.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after acquiring an additional 201 shares in the last quarter. Institutional investors own 62.67% of the company’s stock.

Several research analysts have issued reports on NKE shares. B. Riley reaffirmed a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Nike in a report on Friday, December 22nd. Jefferies Group set a $59.00 price objective on Nike and gave the stock a “neutral” rating in a report on Thursday, December 28th. JPMorgan Chase & Co. set a $58.00 price objective on Nike and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Finally, Barclays set a $71.00 price objective on Nike and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Nike has a consensus rating of “Hold” and an average target price of $64.39.

Nike Inc (NYSE NKE) traded up $0.07 on Thursday, hitting $64.29. 5,103,540 shares of the company were exchanged, compared to its average volume of 9,580,000. The company has a market cap of $104,890.00, a PE ratio of 27.83, a P/E/G ratio of 2.90 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike Inc has a 1-year low of $50.35 and a 1-year high of $65.18.

Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. research analysts predict that Nike Inc will post 2.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is 34.63%.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the transaction, the chairman now owns 1,502,830 shares in the company, valued at approximately $97,683,950. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Eric D. Sprunk sold 226,040 shares of the stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the transaction, the chief operating officer now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 967,896 shares of company stock valued at $60,257,267. Corporate insiders own 3.90% of the company’s stock.

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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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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