Connors Investor Services Inc. lessened its position in Nike (NYSE:NKE) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,151 shares of the footwear maker’s stock after selling 3,666 shares during the quarter. Nike makes up about 1.5% of Connors Investor Services Inc.’s holdings, making the stock its 19th biggest holding. Connors Investor Services Inc.’s holdings in Nike were worth $10,508,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of NKE. Field & Main Bank purchased a new stake in shares of Nike in the 4th quarter valued at approximately $100,000. Wagner Wealth Management LLC purchased a new stake in shares of Nike in the 4th quarter valued at approximately $103,000. G&S Capital LLC purchased a new stake in shares of Nike in the 4th quarter valued at approximately $112,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Nike in the 4th quarter valued at approximately $116,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Nike in the 4th quarter valued at approximately $128,000. Institutional investors and hedge funds own 64.25% of the company’s stock.
Nike opened at $72.25 on Friday, Marketbeat.com reports. Nike has a 1 year low of $50.35 and a 1 year high of $73.49. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $116.07 billion, a P/E ratio of 28.78, a PEG ratio of 3.40 and a beta of 0.64.
Nike (NYSE:NKE) last posted its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period last year, the business posted $0.68 EPS. Nike’s revenue was up 6.5% compared to the same quarter last year. research analysts forecast that Nike will post 2.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Monday, June 4th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.11%. Nike’s payout ratio is presently 31.87%.
In other Nike news, insider Eric D. Sprunk sold 45,000 shares of the stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $72.00, for a total value of $3,240,000.00. Following the completion of the sale, the insider now directly owns 186,959 shares of the company’s stock, valued at approximately $13,461,048. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 191,959 shares of the company’s stock, valued at $13,437,130. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,000 shares of company stock valued at $16,190,000. Insiders own 3.90% of the company’s stock.
Several brokerages recently commented on NKE. Canaccord Genuity restated a “hold” rating and issued a $62.00 price target (up previously from $60.00) on shares of Nike in a research report on Sunday, March 25th. UBS set a $76.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Thursday, February 1st. Macquarie reiterated a “buy” rating and issued a $80.00 price objective on shares of Nike in a research note on Friday, March 23rd. Barclays set a $75.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Friday, March 23rd. Finally, Jefferies Group set a $68.00 price objective on shares of Nike and gave the company a “neutral” rating in a research note on Friday, March 23rd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have issued a buy rating to the company. Nike presently has a consensus rating of “Hold” and an average target price of $69.30.
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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