Credit Agricole S A trimmed its position in shares of Nike (NYSE:NKE) by 99.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,800 shares of the footwear maker’s stock after selling 1,232,426 shares during the quarter. Credit Agricole S A’s holdings in Nike were worth $238,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of NKE. Maverick Capital Ltd. bought a new position in Nike in the 4th quarter valued at $10,759,000. Financial Gravity Companies Inc. bought a new position in shares of Nike during the 4th quarter worth $292,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Nike during the 4th quarter worth $217,000. Burney Co. grew its stake in shares of Nike by 5.8% during the 4th quarter. Burney Co. now owns 26,722 shares of the footwear maker’s stock worth $1,671,000 after acquiring an additional 1,466 shares during the period. Finally, Bell & Brown Wealth Advisors LLC bought a new position in shares of Nike during the 4th quarter worth $1,177,000. 65.67% of the stock is currently owned by institutional investors.
NKE has been the subject of several research reports. Citigroup reiterated a “buy” rating and set a $78.00 price target (up previously from $74.00) on shares of Nike in a research note on Wednesday, January 31st. Susquehanna Bancshares reiterated a “hold” rating and set a $57.00 price target on shares of Nike in a research note on Wednesday, December 13th. DA Davidson increased their price target on Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 price target on Nike and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Guggenheim reissued a “buy” rating and set a $78.00 price objective on shares of Nike in a report on Friday, March 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $68.55.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 100,000 shares of Nike stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the transaction, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Shares of NKE stock traded down $2.04 during trading hours on Friday, reaching $67.55. The company’s stock had a trading volume of 9,719,265 shares, compared to its average volume of 8,573,114. The firm has a market cap of $109,899.73, a P/E ratio of 26.91, a P/E/G ratio of 2.86 and a beta of 0.65. Nike has a one year low of $50.35 and a one year high of $70.25. 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 (NYSE:NKE) last released its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. equities analysts predict that Nike will post 2.32 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors 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 dividend yield of 1.18%. Nike’s dividend payout ratio is presently 31.87%.
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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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