Private Advisor Group LLC cut its stake in shares of Nike (NYSE:NKE) by 14.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 33,494 shares of the footwear maker’s stock after selling 5,464 shares during the period. Private Advisor Group LLC’s holdings in Nike were worth $2,226,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of NKE. Field & Main Bank acquired a new position in Nike during the fourth quarter worth $100,000. Wagner Wealth Management LLC acquired a new position in Nike during the fourth quarter worth $103,000. G&S Capital LLC acquired a new position in Nike during the fourth quarter worth $112,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Nike during the fourth quarter worth $116,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Nike during the fourth quarter worth $128,000. Institutional investors own 64.25% of the company’s stock.
In related news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $70.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the insider now directly owns 191,959 shares of the company’s stock, valued at approximately $13,437,130. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
A number of equities analysts have weighed in on NKE shares. Citigroup restated a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Nike in a research report on Wednesday, January 31st. Oppenheimer upgraded shares of Nike to a “buy” rating in a research report on Wednesday, January 31st. UBS set a $76.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Thursday, February 1st. Buckingham Research increased their target price on shares of Nike from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Finally, Stifel Nicolaus increased their target price on shares of Nike from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $69.30.
Shares of Nike opened at $71.32 on Monday, according to MarketBeat.com. The firm has a market cap of $116.03 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 3.41 and a beta of 0.64. Nike has a one year low of $50.35 and a one year high of $71.60. 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 issued its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.53 by $0.15. The company had revenue of $8.98 billion for 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%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS. analysts forecast that Nike will post 2.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Monday, June 4th will be given a $0.20 dividend. The ex-dividend date is Friday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.12%. Nike’s dividend payout ratio is presently 31.87%.
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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