Private Asset Management Inc. lowered its position in shares of Nike Inc (NYSE:NKE) by 9.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,108 shares of the footwear maker’s stock after selling 999 shares during the period. Private Asset Management Inc.’s holdings in Nike were worth $508,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clarius Group LLC bought a new position in shares of Nike during the fourth quarter valued at about $111,000. SRS Capital Advisors Inc. bought a new position in shares of Nike during the fourth quarter valued at about $120,000. First Command Bank bought a new position in shares of Nike during the fourth quarter valued at about $128,000. Catalyst Capital Advisors LLC bought a new position in shares of Nike during the third quarter valued at about $130,000. Finally, Bank Hapoalim BM bought a new position in shares of Nike during the third quarter valued at about $137,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) traded down 0.98% during trading on Friday, hitting $55.85. 6,055,618 shares of the company’s stock were exchanged. Nike Inc has a 12-month low of $49.01 and a 12-month high of $60.33. The company has a market cap of $92.20 billion, a P/E ratio of 23.30 and a beta of 0.44. The company has a 50-day moving average of $56.25 and a 200-day moving average of $53.47.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 11.60% and a return on equity of 31.70%. The firm had revenue of $8.43 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same period last year, the firm posted $0.55 EPS. Nike’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities analysts expect that Nike Inc will post $2.40 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 6th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.29%. Nike’s dividend payout ratio (DPR) is 31.72%.
Several brokerages recently issued reports on NKE. Goldman Sachs Group Inc reissued a “buy” rating and issued a $62.00 price target on shares of Nike in a research note on Tuesday. Vetr downgraded shares of Nike from a “buy” rating to a “hold” rating and set a $58.44 price target for the company. in a research note on Monday. Deutsche Bank AG reissued a “buy” rating and issued a $64.00 price target on shares of Nike in a research note on Monday, April 10th. Piper Jaffray Companies reissued a “hold” rating and issued a $51.00 price target on shares of Nike in a research note on Thursday, April 6th. Finally, Argus set a $55.00 price target on shares of Nike in a research note on Wednesday, April 5th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $60.66.
In other Nike 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 transaction of $10,616,000.00. Following the sale, the executive vice president now directly owns 357,713 shares in the company, valued at approximately $18,987,406.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $55.67, for a total transaction of $2,783,500.00. Following the sale, the insider now owns 300,108 shares in the company, valued at $16,707,012.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 665,000 shares of company stock worth $36,333,500. 3.90% of the stock is currently owned by 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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