Franklin Street Advisors Inc. NC reduced its position in Nike Inc (NYSE:NKE) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,024 shares of the footwear maker’s stock after selling 20,285 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Nike were worth $5,240,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC increased its stake in shares of Nike by 0.3% in the third quarter. Capital Investment Advisors LLC now owns 3,885 shares of the footwear maker’s stock worth $205,000 after buying an additional 12 shares during the period. Altfest L J & Co. Inc. increased its stake in shares of Nike by 0.5% in the third quarter. Altfest L J & Co. Inc. now owns 3,964 shares of the footwear maker’s stock worth $209,000 after buying an additional 20 shares during the period. BancorpSouth Inc increased its stake in shares of Nike by 0.4% in the third quarter. BancorpSouth Inc now owns 7,406 shares of the footwear maker’s stock worth $390,000 after buying an additional 33 shares during the period. Empirical Financial Services LLC increased its stake in shares of Nike by 0.8% in the third quarter. Empirical Financial Services LLC now owns 5,549 shares of the footwear maker’s stock worth $292,000 after buying an additional 45 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of Nike by 0.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 10,336 shares of the footwear maker’s stock worth $544,000 after buying an additional 49 shares during the period. Institutional investors own 62.23% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) traded down 0.98% on Friday, hitting $55.85. The stock had a trading volume of 6,055,617 shares. The stock has a market cap of $92.20 billion, a PE ratio of 23.30 and a beta of 0.44. Nike Inc has a one year low of $49.01 and a one year high of $60.33. The company’s 50 day moving average is $56.25 and its 200 day moving average is $53.47.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 11.60% and a return on equity of 31.70%. The company earned $8.43 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts predict that Nike Inc will post $2.40 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Monday, March 6th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 2nd. Nike’s payout ratio is 31.72%.
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NKE has been the topic of several recent analyst reports. B. Riley reiterated a “neutral” rating and issued a $56.00 price target on shares of Nike in a report on Monday, December 26th. Deutsche Bank AG set a $65.00 price target on Nike and gave the stock a “buy” rating in a report on Sunday, December 25th. Stifel Nicolaus set a $68.00 price target on Nike and gave the stock a “buy” rating in a report on Sunday, December 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 price target on shares of Nike in a report on Wednesday, March 22nd. Finally, Argus downgraded Nike from a “buy” rating to a “hold” rating and increased their price target for the stock from $55.25 to $55.56 in a report on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.66.
In other news, EVP David J. Ayre sold 200,000 shares of the business’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $53.08, for a total value of $10,616,000.00. Following the completion of the sale, the executive vice president now directly owns 357,713 shares in the company, valued at $18,987,406.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Lechleiter bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 24th. The shares were bought at an average price of $56.30 per share, with a total value of $56,300.00. Following the completion of the purchase, the director now owns 28,660 shares in the company, valued at $1,613,558. The disclosure for this purchase can be found here. Insiders sold 665,000 shares of company stock valued at $36,333,500 over the last 90 days. 3.90% of the stock is owned by corporate insiders.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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