Russell Investments Group Ltd. lowered its position in shares of Nike Inc (NYSE:NKE) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,381,954 shares of the footwear maker’s stock after selling 364,003 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Nike worth $212,805,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in NKE. Fiduciary Trust Co. raised its holdings in Nike by 4.9% in the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after purchasing an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. raised its holdings in Nike by 651.4% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after purchasing an additional 23,450 shares in the last quarter. Amalgamated Bank raised its holdings in Nike by 2.0% in the 3rd quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after purchasing an additional 3,189 shares in the last quarter. Stifel Financial Corp raised its holdings in Nike by 3.9% in the 3rd quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock worth $68,428,000 after purchasing an additional 49,251 shares in the last quarter. Finally, Sun Life Financial INC raised its holdings in Nike by 23,747.5% in the 2nd quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock worth $563,000 after purchasing an additional 9,499 shares in the last quarter. 61.57% of the stock is owned by institutional investors and hedge funds.
Shares of Nike Inc (NYSE:NKE) opened at $68.16 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 stock has a market cap of $111,200.00, a PE ratio of 29.51, a PEG ratio of 3.03 and a beta of 0.68. Nike Inc has a 1-year low of $50.35 and a 1-year high of $69.00.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (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 the consensus estimate of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. sell-side analysts forecast that Nike Inc will post 2.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, March 2nd. Nike’s payout ratio is presently 34.63%.
NKE has been the subject of several research reports. JPMorgan Chase & Co. set a $58.00 price objective on shares of Nike and gave the stock a “neutral” rating in a report on Tuesday, January 2nd. Goldman Sachs Group set a $62.00 price target on shares of Nike and gave the stock a “neutral” rating in a research note on Thursday, December 28th. Buckingham Research assumed coverage on shares of Nike in a research note on Sunday, December 31st. They issued a “buy” rating and a $72.00 price target for the company. Bank of America set a $42.00 price target on shares of Nike and gave the stock a “sell” rating in a research note on Friday, December 22nd. Finally, Canaccord Genuity set a $60.00 price target on shares of Nike and gave the stock a “hold” rating in a research note on Sunday, January 7th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $65.61.
In related news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now directly owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 932,896 shares of company stock worth $59,594,217. Insiders own 3.90% of the company’s stock.
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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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