Baird Financial Group Inc. decreased its holdings in shares of Nike Inc (NYSE:NKE) by 12.6% in the 4th quarter, Holdings Channel reports. The firm owned 572,489 shares of the footwear maker’s stock after selling 82,485 shares during the quarter. Baird Financial Group Inc.’s holdings in Nike were worth $35,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in the business. Amalgamated Bank grew its position in shares of Nike by 2.0% during the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after acquiring an additional 3,189 shares during the last quarter. Stifel Financial Corp grew its position in shares of Nike by 3.9% during the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock worth $68,428,000 after acquiring an additional 49,251 shares during the last quarter. Sun Life Financial INC grew its position in shares of Nike by 23,747.5% during the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock worth $563,000 after acquiring an additional 9,499 shares during the last quarter. Sather Financial Group Inc bought a new position in shares of Nike during the second quarter worth about $9,275,000. Finally, Capital Bank & Trust Co grew its position in shares of Nike by 63.7% during the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock worth $33,897,000 after acquiring an additional 254,372 shares during the last quarter. Hedge funds and other institutional investors own 65.06% of the company’s stock.
Shares of Nike Inc (NKE) opened at $66.30 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The stock has a market capitalization of $110,150.00, a PE ratio of 28.70, a price-to-earnings-growth ratio of 2.90 and a beta of 0.68. Nike Inc has a twelve month low of $50.35 and a twelve month high of $70.25.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, March 2nd. This represents a $0.80 annualized dividend and a yield of 1.21%. Nike’s payout ratio is presently 34.63%.
NKE has been the subject of several recent research reports. Citigroup restated a “buy” rating and set a $78.00 price target (up previously from $74.00) on shares of Nike in a research report on Wednesday, January 31st. Susquehanna Bancshares restated a “hold” rating and set a $57.00 price target on shares of Nike in a research report on Wednesday, December 13th. DA Davidson upped their price target on shares of Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. Barclays set a $75.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Finally, Buckingham Research initiated coverage on shares of Nike in a research report on Saturday, January 6th. They set a “buy” rating and a $72.00 price target for the company. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Nike has a consensus rating of “Hold” and a consensus target price of $65.61.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,067,896 shares of company stock worth $69,044,217. Corporate insiders own 3.90% of the company’s stock.
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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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