Global Trust Asset Management LLC boosted its holdings in Nike Inc (NYSE:NKE) by 68.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,960 shares of the footwear maker’s stock after purchasing an additional 1,200 shares during the quarter. Global Trust Asset Management LLC’s holdings in Nike were worth $219,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in NKE. FMR LLC boosted its holdings in shares of Nike by 1.4% during the second quarter. FMR LLC now owns 15,661,001 shares of the footwear maker’s stock valued at $1,247,869,000 after acquiring an additional 219,743 shares during the period. AE Wealth Management LLC raised its stake in shares of Nike by 57.8% during the second quarter. AE Wealth Management LLC now owns 7,144 shares of the footwear maker’s stock valued at $569,000 after purchasing an additional 2,617 shares in the last quarter. Centaurus Financial Inc. raised its stake in shares of Nike by 51.7% during the second quarter. Centaurus Financial Inc. now owns 9,265 shares of the footwear maker’s stock valued at $738,000 after purchasing an additional 3,156 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Nike by 7.3% during the second quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 73,074 shares of the footwear maker’s stock valued at $5,823,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Nike by 2,820.1% during the second quarter. Millennium Management LLC now owns 1,169,503 shares of the footwear maker’s stock valued at $93,186,000 after purchasing an additional 1,129,453 shares in the last quarter. 63.99% of the stock is owned by hedge funds and other institutional investors.
NYSE NKE opened at $76.04 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. The stock has a market cap of $121.63 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.37 and a beta of 0.69. Nike Inc has a 1 year low of $62.09 and a 1 year high of $86.04.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.46 EPS. On average, sell-side analysts expect that Nike Inc will post 2.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, November 30th. This is a boost from Nike’s previous quarterly dividend of $0.20. Nike’s payout ratio is 36.36%.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the transaction, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $124,361,745.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Bank of America restated a “sell” rating and set a $50.00 price objective on shares of Nike in a research note on Friday, September 21st. Stifel Nicolaus lifted their price objective on shares of Nike from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Goldman Sachs Group set a $81.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Thursday, September 20th. Pivotal Research set a $85.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Friday, September 21st. Finally, Barclays lifted their price objective on shares of Nike to $100.00 and gave the company an “overweight” rating in a research note on Friday, September 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average target price of $83.14.
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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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