Nike Inc (NKE) Holdings Lifted by SOL Capital Management CO

SOL Capital Management CO raised its holdings in shares of Nike Inc (NYSE:NKE) by 6.9% in the third quarter, Holdings Channel reports. The firm owned 16,960 shares of the footwear maker’s stock after buying an additional 1,100 shares during the quarter. SOL Capital Management CO’s holdings in Nike were worth $1,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Nike by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after purchasing an additional 1,273,548 shares during the last quarter. Northern Trust Corp raised its position in Nike by 0.3% during the 2nd quarter. Northern Trust Corp now owns 20,669,184 shares of the footwear maker’s stock valued at $1,646,920,000 after purchasing an additional 64,030 shares during the last quarter. FMR LLC raised its position in Nike by 1.4% during the 2nd quarter. FMR LLC now owns 15,661,001 shares of the footwear maker’s stock valued at $1,247,869,000 after purchasing an additional 219,743 shares during the last quarter. Edgewood Management LLC raised its position in Nike by 2.6% during the 2nd quarter. Edgewood Management LLC now owns 15,500,497 shares of the footwear maker’s stock valued at $1,235,080,000 after purchasing an additional 388,901 shares during the last quarter. Finally, Jennison Associates LLC raised its position in Nike by 26.5% during the 2nd quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock valued at $1,174,533,000 after purchasing an additional 3,087,189 shares during the last quarter. 64.49% of the stock is owned by institutional investors and hedge funds.

NKE stock opened at $74.51 on Wednesday. Nike Inc has a twelve month low of $54.52 and a twelve month high of $86.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53. The company has a market cap of $114.45 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.26 and a beta of 0.65.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. During the same quarter last year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that Nike Inc will post 2.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Tuesday, September 4th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 31st. Nike’s dividend payout ratio (DPR) is presently 33.06%.

In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the sale, the executive vice president now directly owns 104,737 shares in the company, valued at approximately $8,708,881.55. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the sale, the director now owns 26,963 shares in the company, valued at $2,293,203.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is owned by corporate insiders.

Several brokerages have recently issued reports on NKE. HSBC reissued a “neutral” rating and issued a $92.00 target price on shares of Nike in a research report on Wednesday, October 3rd. Morgan Stanley set a $88.00 target price on Nike and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Daiwa Capital Markets set a $85.00 target price on Nike and gave the stock a “hold” rating in a research report on Monday, October 1st. Bank of America increased their target price on Nike from $50.00 to $55.00 and gave the stock an “underperform” rating in a research report on Wednesday, September 26th. Finally, Goldman Sachs Group set a $81.00 target price on Nike and gave the stock a “buy” rating in a research report on Thursday, September 20th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $85.63.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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