FinTrust Capital Advisors LLC increased its stake in shares of Nike Inc (NYSE:NKE) by 9.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,490 shares of the footwear maker’s stock after acquiring an additional 560 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Nike were worth $547,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Angeles Investment Advisors LLC acquired a new stake in Nike during the first quarter worth $1,124,000. Mcmillion Capital Management Inc. boosted its stake in Nike by 1.8% during the first quarter. Mcmillion Capital Management Inc. now owns 67,481 shares of the footwear maker’s stock worth $5,683,000 after buying an additional 1,191 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in Nike by 0.4% during the first quarter. Mawer Investment Management Ltd. now owns 1,019,774 shares of the footwear maker’s stock worth $85,878,000 after buying an additional 4,266 shares in the last quarter. Avestar Capital LLC boosted its stake in Nike by 8.0% during the first quarter. Avestar Capital LLC now owns 7,629 shares of the footwear maker’s stock worth $638,000 after buying an additional 568 shares in the last quarter. Finally, Wade G W & Inc. boosted its stake in Nike by 5.2% during the first quarter. Wade G W & Inc. now owns 4,738 shares of the footwear maker’s stock worth $399,000 after buying an additional 236 shares in the last quarter. 65.70% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. Telsey Advisory Group lifted their price target on shares of Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Wells Fargo & Co lifted their price target on shares of Nike from $76.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. 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 research note on Tuesday, March 19th. Citigroup assumed coverage on shares of Nike in a research note on Wednesday, April 10th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Wedbush lifted their price target on shares of Nike from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.39.
Shares of NYSE:NKE opened at $83.61 on Friday. Nike Inc has a 52 week low of $66.53 and a 52 week high of $90.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17. The firm has a market capitalization of $130.86 billion, a PE ratio of 34.55, a PEG ratio of 2.12 and a beta of 0.76.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. On average, sell-side analysts forecast that Nike Inc will post 2.54 EPS for the current 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 given a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 1.05%. Nike’s dividend payout ratio (DPR) is 36.36%.
In related news, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 166,504 shares of company stock worth $14,320,816. 3.90% of the stock is owned by corporate insiders.
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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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