Bell & Brown Wealth Advisors LLC increased its stake in Nike Inc (NYSE:NKE) by 153.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,131 shares of the footwear maker’s stock after purchasing an additional 27,962 shares during the period. Bell & Brown Wealth Advisors LLC’s holdings in Nike were worth $3,420,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gemmer Asset Management LLC boosted its stake in Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Acima Private Wealth LLC acquired a new position in Nike in the 4th quarter worth $39,000. Proffitt & Goodson Inc. acquired a new position in Nike in the 4th quarter worth $44,000. Ruggie Capital Group boosted its stake in Nike by 40.7% in the 4th quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock worth $60,000 after purchasing an additional 233 shares during the period. Finally, Loeb Partners Corp acquired a new position in Nike in the 4th quarter worth $77,000. 64.97% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Nike from a “neutral” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Friday, December 21st. Stifel Nicolaus reaffirmed a “buy” rating on shares of Nike in a research note on Thursday, December 20th. UBS Group set a $78.00 price target on shares of Nike and gave the stock a “neutral” rating in a research report on Thursday, December 27th. Credit Suisse Group set a $90.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Friday, December 21st. Finally, Robert W. Baird reissued a “buy” rating and set a $94.00 price target on shares of Nike in a research report on Monday, November 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $84.42.
Shares of NKE stock opened at $85.73 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. The stock has a market capitalization of $135.60 billion, a PE ratio of 35.43, a PEG ratio of 2.62 and a beta of 0.69. Nike Inc has a 52-week low of $63.21 and a 52-week high of $86.40.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.06. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. Nike’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. As a group, equities analysts forecast that Nike Inc will post 2.63 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.03%. Nike’s payout ratio is 36.36%.
In other news, EVP John F. Slusher sold 200,000 shares of the company’s 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 sale, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $78.00, for a total transaction of $11,700,000.00. Following the completion of the sale, the chairman now directly owns 1,687,863 shares in the company, valued at $131,653,314. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 800,000 shares of company stock worth $61,862,000. 3.90% of the stock is owned by 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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