Tower Bridge Advisors lessened its stake in shares of Nike Inc (NYSE:NKE) by 44.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,558 shares of the footwear maker’s stock after selling 42,810 shares during the quarter. Tower Bridge Advisors’ holdings in Nike were worth $2,829,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NKE. Israel Discount Bank of New York purchased a new stake in shares of Nike during the first quarter valued at approximately $764,000. WINTON GROUP Ltd lifted its stake in Nike by 2,434.9% in the first quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after acquiring an additional 288,216 shares during the period. Good Life Advisors LLC lifted its stake in Nike by 36.6% in the first quarter. Good Life Advisors LLC now owns 6,992 shares of the footwear maker’s stock worth $384,000 after acquiring an additional 1,873 shares during the period. Jacobson & Schmitt Advisors LLC lifted its stake in Nike by 2.0% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 102,640 shares of the footwear maker’s stock worth $5,720,000 after acquiring an additional 1,981 shares during the period. Finally, Legal & General Group Plc lifted its stake in Nike by 5.5% in the first quarter. Legal & General Group Plc now owns 5,511,172 shares of the footwear maker’s stock worth $307,138,000 after acquiring an additional 285,325 shares during the period. 62.67% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Cowen set a $64.00 price target on Nike and gave the stock a “hold” rating in a research note on Thursday. Macquarie set a $72.00 price target on Nike and gave the stock a “buy” rating in a research note on Thursday. Barclays set a $75.00 price target on Nike and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Canaccord Genuity set a $60.00 price target on Nike and gave the stock a “hold” rating in a research note on Sunday, January 7th. Finally, Buckingham Research started coverage on Nike in a research note on Saturday, January 6th. They issued a “buy” rating and a $72.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $64.40.
Shares of Nike Inc (NYSE NKE) opened at $64.67 on Friday. Nike Inc has a twelve month low of $50.35 and a twelve month high of $65.18. The company has a market capitalization of $105,214.14, a PE ratio of 28.00, a P/E/G ratio of 2.93 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same period last year, the company earned $0.50 EPS. Nike’s revenue for the quarter was up 4.6% on a year-over-year basis. analysts predict that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.24%. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. Nike’s dividend payout ratio (DPR) is presently 34.63%.
In related news, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now directly owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of Nike 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 completion of the sale, 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. Insiders sold a total of 967,896 shares of company stock valued at $60,257,267 over the last quarter. 3.90% of the stock is owned by corporate insiders.
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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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