Ascend Capital LLC Takes Position in Nike (NKE)

Ascend Capital LLC purchased a new stake in Nike (NYSE:NKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 63,939 shares of the footwear maker’s stock, valued at approximately $3,999,000.

Other hedge funds also recently bought and sold shares of the company. Field & Main Bank bought a new position in shares of Nike in the 4th quarter valued at about $100,000. Willingdon Wealth Management bought a new position in Nike during the third quarter worth about $114,000. Pinnacle Wealth Planning Services Inc. bought a new position in Nike during the fourth quarter worth about $116,000. SeaCrest Wealth Management LLC acquired a new stake in Nike during the fourth quarter worth approximately $128,000. Finally, First Dallas Securities Inc. acquired a new stake in Nike during the fourth quarter worth approximately $128,000. 65.67% of the stock is currently owned by institutional investors.

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Shares of NYSE:NKE traded down $2.04 during midday trading on Friday, reaching $67.55. 9,717,965 shares of the company were exchanged, compared to its average volume of 8,218,402. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.73 and a current ratio of 2.66. Nike has a one year low of $50.35 and a one year high of $70.25. The firm has a market cap of $111,315.16, a price-to-earnings ratio of 26.91, a P/E/G ratio of 2.91 and a beta of 0.65.

Nike (NYSE:NKE) last issued its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.85 billion. Nike had a net margin of 5.11% and a return on equity of 33.38%. Nike’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. research analysts predict that Nike will post 2.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 5th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, March 2nd. Nike’s payout ratio is 31.87%.

In other news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the transaction, the insider now directly owns 227,199 shares in the company, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Several equities research analysts have issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $74.00 price objective on shares of Nike in a research report on Friday, December 22nd. Macquarie set a $72.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Thursday, January 11th. Cowen set a $64.00 target price on shares of Nike and gave the stock a “hold” rating in a research note on Thursday, January 11th. Canaccord Genuity reissued a “hold” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Nike in a research note on Sunday, March 25th. Finally, UBS set a $76.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, February 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Nike currently has an average rating of “Hold” and a consensus price target of $68.55.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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