Shulman DeMeo Asset Management LLC purchased a new stake in shares of Nike Inc (NYSE:NKE) in the first quarter, Holdings Channel reports. The firm purchased 2,492 shares of the footwear maker’s stock, valued at approximately $210,000.
A number of other hedge funds also recently added to or reduced their stakes in the business. Next Capital Management LLC bought a new stake in shares of Nike in the 4th quarter worth approximately $26,000. Arcadia Investment Management Corp MI raised its holdings in shares of Nike by 45.4% in the 1st quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after purchasing an additional 128 shares during the period. Gemmer Asset Management LLC raised its holdings in shares of Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Clarfeld Financial Advisors LLC bought a new stake in shares of Nike in the 4th quarter worth approximately $34,000. Finally, CenterStar Asset Management LLC raised its holdings in shares of Nike by 268.2% in the 1st quarter. CenterStar Asset Management LLC now owns 486 shares of the footwear maker’s stock worth $41,000 after purchasing an additional 775 shares during the period. Institutional investors and hedge funds own 65.94% of the company’s stock.
In other news, EVP John F. Slusher sold 110,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Eric D. Sprunk sold 40,004 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,504 shares of company stock valued at $14,320,816. 3.90% of the stock is owned by insiders.
NKE stock opened at $83.67 on Thursday. Nike Inc has a 1 year low of $66.53 and a 1 year high of $90.00. The stock has a market capitalization of $129.72 billion, a P/E ratio of 34.57, a P/E/G ratio of 2.48 and a beta of 0.67. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. Nike’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts anticipate that Nike Inc will post 2.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, May 31st. Nike’s payout ratio is currently 36.36%.
A number of research firms recently commented on NKE. Bank of America lifted their price target on shares of Nike from $55.00 to $60.00 and gave the stock an “underperform” rating in a report on Tuesday, March 19th. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 price objective on shares of Nike in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Nike from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Goldman Sachs Group set a $85.00 price objective on shares of Nike and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and an average target price of $87.10.
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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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