Algert Global LLC purchased a new position in Nike Inc (NYSE:NKE) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,027 shares of the footwear maker’s stock, valued at approximately $506,000.
Several other institutional investors and hedge funds also recently bought and sold shares of NKE. Jackson Grant Investment Advisers Inc. bought a new position in shares of Nike during the 1st quarter valued at approximately $25,000. Shamrock Asset Management LLC bought a new position in shares of Nike during the 1st quarter valued at approximately $25,000. Thor Advisors LLC bought a new position in shares of Nike during the 1st quarter valued at approximately $26,000. Hexavest Inc. bought a new position in shares of Nike during the 2nd quarter valued at approximately $30,000. Finally, Litman Gregory Asset Management LLC bought a new position in shares of Nike during the 2nd quarter valued at approximately $31,000. 65.04% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $93.42, for a total transaction of $15,414,300.00. Following the sale, the chief executive officer now owns 2,054,511 shares in the company, valued at approximately $191,932,417.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total value of $9,378,600.00. The disclosure for this sale can be found here. Insiders sold a total of 505,579 shares of company stock valued at $45,961,980 over the last quarter. 3.80% of the stock is owned by corporate insiders.
Several equities analysts have commented on the company. Citigroup upped their price objective on Nike from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank set a $105.00 target price on Nike and gave the stock a “buy” rating in a report on Monday, October 7th. Bank of America upgraded Nike to an “underperform” rating and raised their target price for the company from $60.00 to $70.00 in a research report on Monday, June 24th. Exane BNP Paribas started coverage on Nike in a research report on Friday, October 4th. They issued an “underperform” rating and a $82.00 target price on the stock. Finally, Guggenheim lifted their price objective on Nike from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $95.92.
Nike stock traded up $0.88 on Friday, reaching $93.88. 5,765,851 shares of the stock were exchanged, compared to its average volume of 7,148,639. The firm has a fifty day moving average price of $88.07 and a two-hundred day moving average price of $85.38. The company has a current ratio of 2.01, a quick ratio of 1.29 and a debt-to-equity ratio of 0.67. The stock has a market cap of $144.97 billion, a PE ratio of 37.70, a PEG ratio of 2.46 and a beta of 0.85. Nike Inc has a twelve month low of $66.53 and a twelve month high of $94.75.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. The business had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. Nike had a net margin of 10.81% and a return on equity of 47.92%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. Equities analysts anticipate that Nike Inc will post 2.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Friday, August 30th. Nike’s dividend payout ratio is presently 35.34%.
Nike Company Profile
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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