Stony Point Wealth Management Inc. bought a new stake in Nike Inc (NYSE:NKE) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,604 shares of the footwear maker’s stock, valued at approximately $219,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tiemann Investment Advisors LLC increased its stake in Nike by 2.4% in the 4th quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock worth $402,000 after buying an additional 125 shares during the period. Capital Insight Partners LLC grew its holdings in Nike by 0.7% during the 1st quarter. Capital Insight Partners LLC now owns 17,819 shares of the footwear maker’s stock worth $1,501,000 after acquiring an additional 126 shares in the last quarter. Baystate Wealth Management LLC grew its holdings in Nike by 5.8% during the 4th quarter. Baystate Wealth Management LLC now owns 2,304 shares of the footwear maker’s stock worth $185,000 after acquiring an additional 127 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Nike by 18.4% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 900 shares of the footwear maker’s stock worth $76,000 after acquiring an additional 140 shares in the last quarter. Finally, Lee Danner & Bass Inc. grew its holdings in Nike by 2.9% during the 4th quarter. Lee Danner & Bass Inc. now owns 5,071 shares of the footwear maker’s stock worth $376,000 after acquiring an additional 144 shares in the last quarter. 65.74% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have issued reports on NKE shares. Morgan Stanley set a $103.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Cowen set a $90.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Bank of America set a $55.00 target price on shares of Nike and gave the stock a “sell” rating in a report on Sunday, December 30th. Wells Fargo & Co increased their target price on shares of Nike from $76.00 to $80.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Finally, Robert W. Baird cut shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 target price on the stock. in a report on Wednesday, January 9th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $87.10.
Nike (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. Nike’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. As a group, equities research analysts forecast that Nike Inc will post 2.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Friday, March 1st. Nike’s dividend payout ratio (DPR) is presently 36.36%.
In related news, insider Eric D. Sprunk sold 40,004 shares of Nike stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total value of $3,513,151.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders sold a total of 316,504 shares of company stock valued at $26,620,816 over the last quarter. 3.90% of the stock is owned by company insiders.
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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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