Van Hulzen Asset Management LLC boosted its position in Nike (NYSE:NKE) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,474 shares of the footwear maker’s stock after purchasing an additional 12,870 shares during the period. Nike comprises approximately 2.0% of Van Hulzen Asset Management LLC’s portfolio, making the stock its 6th biggest holding. Van Hulzen Asset Management LLC’s holdings in Nike were worth $6,472,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Obermeyer Wood Investment Counsel Lllp purchased a new position in Nike in the fourth quarter valued at approximately $31,456,000. Empirical Financial Services LLC lifted its stake in Nike by 15.5% in the fourth quarter. Empirical Financial Services LLC now owns 12,729 shares of the footwear maker’s stock valued at $796,000 after purchasing an additional 1,705 shares during the last quarter. BancorpSouth Bank purchased a new position in Nike in the fourth quarter valued at approximately $321,000. Winslow Capital Management LLC lifted its stake in Nike by 17.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,983,333 shares of the footwear maker’s stock valued at $311,708,000 after purchasing an additional 742,148 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. purchased a new position in Nike in the fourth quarter valued at approximately $116,000. Institutional investors and hedge funds own 65.67% of the company’s stock.
NKE opened at $67.55 on Friday. The firm has a market capitalization of $111,315.16, a P/E ratio of 26.91, a PEG ratio of 2.91 and a beta of 0.65. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35. Nike has a 52 week low of $50.35 and a 52 week high of $70.25.
Nike (NYSE:NKE) last released its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 33.38% and a net margin of 5.11%. The business had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. sell-side analysts anticipate that Nike will post 2.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 5th were given a dividend of $0.20 per share. The ex-dividend date was Friday, March 2nd. This represents a $0.80 annualized dividend and a yield of 1.18%. Nike’s payout ratio is 31.87%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares in the company, valued at $114,641,520. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric D. Sprunk sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the sale, the insider now owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several equities analysts recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price objective on shares of Nike in a research note on Friday, December 22nd. ValuEngine upgraded Nike from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays set a $75.00 target price on Nike and gave the stock a “buy” rating in a research report on Friday, March 23rd. Nomura set a $74.00 target price on Nike and gave the stock a “buy” rating in a research report on Friday, March 23rd. Finally, Macquarie restated a “buy” rating and set a $80.00 target price on shares of Nike in a research report on Friday, March 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.55.
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Nike Company Profile
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.
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