US Bancorp DE cut its position in shares of Nike (NYSE:NKE) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,481,566 shares of the footwear maker’s stock after selling 38,229 shares during the quarter. US Bancorp DE owned 0.09% of Nike worth $98,435,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NKE. Koch Industries Inc. acquired a new stake in Nike during the fourth quarter valued at approximately $286,000. Capital Bank & Trust Co boosted its holdings in Nike by 63.7% during the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock valued at $33,897,000 after purchasing an additional 254,372 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Nike by 16.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,955,000 shares of the footwear maker’s stock valued at $101,367,000 after purchasing an additional 278,600 shares in the last quarter. LPL Financial LLC boosted its holdings in Nike by 3.6% during the fourth quarter. LPL Financial LLC now owns 215,542 shares of the footwear maker’s stock valued at $13,482,000 after purchasing an additional 7,497 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new stake in Nike during the third quarter valued at approximately $461,000. 65.76% of the stock is currently owned by institutional investors and hedge funds.
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In other news, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $70.00, for a total value of $3,500,000.00. Following the completion of the transaction, the insider now owns 191,959 shares of the company’s stock, valued at approximately $13,437,130. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
A number of research analysts have recently issued reports on the stock. DA Davidson reiterated a “buy” rating on shares of Nike in a research note on Monday, May 7th. HSBC upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $77.00 target price for the company in a research note on Friday, April 27th. Canaccord Genuity set a $62.00 target price on shares of Nike and gave the company a “hold” rating in a research note on Sunday, April 8th. ValuEngine upgraded shares of Nike from a “hold” rating to a “buy” rating in a research note on Tuesday, April 3rd. Finally, DZ Bank reiterated a “sell” rating on shares of Nike in a research note on Monday, March 26th. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Nike presently has an average rating of “Hold” and a consensus target price of $68.96.
Shares of Nike opened at $70.94 on Friday, Marketbeat Ratings reports. Nike has a 12-month low of $69.62 and a 12-month high of $71.07. The firm has a market capitalization of $116.07 billion, a PE ratio of 28.26, a PEG ratio of 3.42 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.66 and a quick ratio of 1.73.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The company had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.85 billion. During the same quarter in the previous year, the business earned $0.68 EPS. The firm’s revenue was up 6.5% on a year-over-year basis. equities analysts expect that Nike will post 2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Monday, June 4th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, June 1st. Nike’s dividend payout ratio (DPR) is 31.87%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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