Aviance Capital Partners LLC lessened its stake in shares of Nike Inc (NYSE:NKE) by 42.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 12,006 shares of the footwear maker’s stock after selling 8,763 shares during the period. Aviance Capital Partners LLC’s holdings in Nike were worth $623,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in NKE. Fiduciary Trust Co. lifted its position in shares of Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 23,450 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after acquiring an additional 4,030 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in shares of Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after acquiring an additional 17,285 shares in the last quarter. Finally, Airain ltd purchased a new position in shares of Nike in the second quarter valued at about $3,189,000. 62.97% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Mark G. Parker sold 135,000 shares of the 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 of the company’s stock, valued at $97,683,950. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. In the last three months, insiders sold 932,896 shares of company stock worth $59,594,217. 3.90% of the stock is owned by insiders.
NKE has been the topic of several research analyst reports. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a research report on Wednesday, October 4th. Pivotal Research initiated coverage on Nike in a research report on Thursday, October 5th. They issued a “hold” rating and a $56.00 price objective on the stock. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Robert W. Baird reiterated a “buy” rating on shares of Nike in a research report on Friday, October 13th. Finally, Citigroup reiterated a “buy” rating and issued a $65.00 target price on shares of Nike in a research report on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $65.05.
Nike Inc (NYSE:NKE) traded up $0.89 on Wednesday, hitting $68.22. The stock had a trading volume of 11,040,000 shares, compared to its average volume of 8,440,000. The company has a market capitalization of $111,300.00, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.06 and a beta of 0.64. Nike Inc has a 1 year low of $50.35 and a 1 year high of $68.83. 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 (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $8.55 billion for 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. sell-side analysts expect that Nike Inc will post 2.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were paid a dividend of $0.20 per share. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. 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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