Triangle Securities Wealth Management boosted its position in Nike Inc (NYSE:NKE) by 16.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,360 shares of the footwear maker’s stock after buying an additional 1,300 shares during the period. Triangle Securities Wealth Management’s holdings in Nike were worth $522,000 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% during mid-day trading on Friday, reaching $55.85. The company’s stock had a trading volume of 6,055,617 shares. Nike Inc has a 1-year low of $49.01 and a 1-year high of $60.33. The firm’s 50 day moving average price is $56.25 and its 200-day moving average price is $53.47. The company has a market capitalization of $92.20 billion, a price-to-earnings ratio of 23.30 and a beta of 0.44.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $8.43 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, analysts predict that Nike Inc will post $2.40 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Monday, March 6th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, March 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.29%. Nike’s dividend payout ratio is currently 31.72%.
A number of equities research analysts have issued reports on the company. B. Riley restated a “neutral” rating and set a $56.00 price objective on shares of Nike in a research 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 related news, CAO Hilary K. Krane sold 65,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 18th. The shares were sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the transaction, the chief accounting officer now directly owns 270,795 shares of the company’s stock, valued at $15,164,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The shares were sold at an average price of $57.00, for a total transaction of $2,850,000.00. Following the transaction, the insider now directly owns 300,108 shares in the company, valued at $17,106,156. The disclosure for this sale can be found here. Insiders have sold 665,000 shares of company stock worth $36,333,500 over the last ninety days. 3.90% of the stock is currently owned by insiders.
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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