TMD & Associates Inc. acquired a new stake in shares of Nike Inc (NYSE:NKE) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,182 shares of the footwear maker’s stock, valued at approximately $354,000. Nike makes up approximately 0.3% of TMD & Associates Inc.’s holdings, making the stock its 20th largest position.
Other hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new position in Nike during the 2nd quarter valued at approximately $104,000. BDO Wealth Advisors LLC increased its position in Nike by 1,044.3% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after buying an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in Nike during the 2nd quarter valued at approximately $119,000. Tyvor Capital LLC bought a new position in Nike during the 2nd quarter valued at approximately $160,000. Finally, Cerebellum GP LLC bought a new position in Nike during the 3rd quarter valued at approximately $182,000. 63.97% of the stock is owned by institutional investors.
A number of research analysts recently weighed in on NKE shares. Wedbush raised their price objective on Nike from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Wells Fargo & Co set a $82.00 price objective on Nike and gave the company a “neutral” rating in a research report on Tuesday, September 4th. Morgan Stanley set a $103.00 price objective on Nike and gave the company a “buy” rating in a research report on Tuesday, September 25th. Stifel Nicolaus increased their target price on Nike from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Finally, Canaccord Genuity upgraded Nike from a “hold” rating to a “buy” rating and increased their target price for the company from $78.00 to $95.00 in a research note on Tuesday, September 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $84.60.
NKE stock opened at $75.91 on Friday. The firm has a market capitalization of $135.60 billion, a PE ratio of 31.37, a PEG ratio of 2.81 and a beta of 0.65. Nike Inc has a 1 year low of $50.40 and a 1 year high of $86.04. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. On average, equities research analysts expect that Nike Inc will post 2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. Nike’s dividend payout ratio (DPR) is currently 33.06%.
Nike declared that its board has authorized a stock buyback plan on Thursday, June 28th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to repurchase up to 12.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $76.07, for a total value of $760,700.00. Following the transaction, the executive vice president now directly owns 86,774 shares in the company, valued at approximately $6,600,898.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the transaction, the director now owns 26,963 shares in the company, valued at $2,293,203.15. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,778 shares of company stock worth $5,969,246. Company insiders own 3.90% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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