Excalibur Management Corp cut its position in shares of Nike Inc (NYSE:NKE) by 32.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,225 shares of the footwear maker’s stock after selling 2,070 shares during the quarter. Excalibur Management Corp’s holdings in Nike were worth $219,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Asset Planning Services Ltd. lifted its stake in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Atlantic Trust LLC bought a new position in Nike during the second quarter worth about $136,000. Howe & Rusling Inc. lifted its stake in Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the period. Kistler Tiffany Companies LLC lifted its stake in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Nike by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.
Nike Inc (NKE) opened at $64.79 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike Inc has a 1 year low of $50.35 and a 1 year high of $65.07. The firm has a market cap of $105,689.83, a P/E ratio of 27.57, a P/E/G ratio of 3.03 and a beta of 0.64.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date is Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is 34.04%.
In related news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
A number of research analysts have commented on NKE shares. Robert W. Baird restated a “buy” rating and set a $65.00 price target on shares of Nike in a research note on Sunday, September 10th. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target for the company. in a research note on Monday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $66.00 price target on shares of Nike in a research note on Thursday, August 24th. Goldman Sachs Group restated a “buy” rating and set a $58.00 price target (down previously from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, Morgan Stanley restated a “buy” rating and set a $64.00 price target (down previously from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $60.67.
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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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