Excalibur Management Corp Sells 2,070 Shares of Nike Inc (NKE)

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.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the company posted $0.73 EPS. Nike’s revenue was up .1% on a year-over-year basis. analysts expect that Nike Inc will post 2.28 earnings per share for the current fiscal year.

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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About Nike

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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