Norris Perne & French LLP MI cut its holdings in shares of Nike Inc (NYSE:NKE) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,744 shares of the footwear maker’s stock after selling 12,441 shares during the quarter. Nike makes up approximately 1.6% of Norris Perne & French LLP MI’s portfolio, making the stock its 23rd largest holding. Norris Perne & French LLP MI’s holdings in Nike were worth $12,263,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SOL Capital Management CO increased its position in shares of Nike by 6.9% during the third quarter. SOL Capital Management CO now owns 16,960 shares of the footwear maker’s stock valued at $1,437,000 after buying an additional 1,100 shares during the period. CWM LLC increased its position in shares of Nike by 402.1% during the third quarter. CWM LLC now owns 5,387 shares of the footwear maker’s stock valued at $456,000 after buying an additional 4,314 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Nike by 2.7% during the third quarter. Oppenheimer & Co. Inc. now owns 41,761 shares of the footwear maker’s stock valued at $3,538,000 after buying an additional 1,081 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Nike by 11.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 55,227 shares of the footwear maker’s stock valued at $4,680,000 after buying an additional 5,861 shares during the period. Finally, Barings LLC increased its position in shares of Nike by 32.7% during the third quarter. Barings LLC now owns 115,406 shares of the footwear maker’s stock valued at $9,777,000 after buying an additional 28,463 shares during the period. 64.49% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on NKE. Macquarie reiterated a “buy” rating and set a $98.00 price target on shares of Nike in a research report on Monday. CIBC upgraded shares of Nike from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 18th. Oppenheimer upgraded shares of Nike from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Thursday, October 18th. UBS Group restated a “neutral” rating on shares of Nike in a research report on Wednesday, October 17th. Finally, Cowen set a $81.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $85.63.
Shares of NKE opened at $74.51 on Wednesday. The company has a market capitalization of $114.45 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.26 and a beta of 0.65. Nike Inc has a 1 year low of $54.52 and a 1 year high of $86.04. The company has a quick ratio of 1.53, a current ratio of 2.31 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Sell-side analysts anticipate 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. Stockholders of record on Tuesday, September 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, August 31st. Nike’s dividend payout ratio (DPR) is presently 33.06%.
Nike Company 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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