Nike Inc (NKE) Stake Lessened by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. decreased its position in Nike Inc (NYSE:NKE) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 77,793 shares of the footwear maker’s stock after selling 930 shares during the period. Nike comprises approximately 1.4% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 18th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Nike were worth $5,767,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Gemmer Asset Management LLC boosted its position in Nike by 54.2% during the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Acima Private Wealth LLC bought a new stake in Nike during the fourth quarter valued at about $39,000. Proffitt & Goodson Inc. bought a new stake in Nike during the fourth quarter valued at about $44,000. Athena Capital Advisors LLC bought a new stake in Nike during the fourth quarter valued at about $56,000. Finally, Ruggie Capital Group boosted its position in Nike by 40.7% during the fourth quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock valued at $60,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 64.85% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Wedbush raised their price objective on Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday. Credit Suisse Group set a $90.00 price objective on Nike and gave the company a “buy” rating in a research report on Wednesday, January 2nd. Macquarie set a $98.00 price objective on Nike and gave the company a “buy” rating in a research report on Tuesday, December 4th. UBS Group set a $78.00 price objective on Nike and gave the company a “neutral” rating in a research report on Thursday, December 27th. Finally, Wells Fargo & Co set a $82.00 price target on Nike and gave the company a “neutral” rating in a research note on Monday, November 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $84.59.

Shares of NKE opened at $86.87 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.40. Nike Inc has a 12 month low of $63.21 and a 12 month high of $87.99. The company has a market capitalization of $134.45 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 2.64 and a beta of 0.68.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.46 by $0.06. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. Nike’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. Research analysts anticipate that Nike Inc will post 2.63 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 1st. Nike’s dividend payout ratio is presently 36.36%.

In other Nike news, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the transaction, the executive vice president now owns 284,805 shares of the company’s stock, valued at $21,089,810.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $78.00, for a total value of $11,700,000.00. Following the transaction, the chairman now directly owns 1,687,863 shares in the company, valued at approximately $131,653,314. The disclosure for this sale can be found here. Insiders sold 800,000 shares of company stock worth $61,862,000 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

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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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