LA Financiere DE L Echiquier cut its holdings in shares of Nike Inc (NYSE:NKE) by 48.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,520 shares of the footwear maker’s stock after selling 4,280 shares during the period. LA Financiere DE L Echiquier’s holdings in Nike were worth $381,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Standard Life Aberdeen plc lifted its holdings in shares of Nike by 10.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 403,034 shares of the footwear maker’s stock valued at $34,145,000 after purchasing an additional 37,643 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Nike during the 3rd quarter valued at about $847,000. Kentucky Retirement Systems acquired a new stake in shares of Nike during the 3rd quarter valued at about $4,851,000. Teachers Advisors LLC lifted its stake in Nike by 3.2% in the 3rd quarter. Teachers Advisors LLC now owns 3,379,948 shares of the footwear maker’s stock valued at $286,349,000 after buying an additional 104,566 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in Nike by 3.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 8,240,453 shares of the footwear maker’s stock valued at $698,131,000 after buying an additional 279,655 shares in the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.
NKE traded down $0.48 on Friday, hitting $82.16. 5,878,000 shares of the company were exchanged, compared to its average volume of 6,607,279. The firm has a market capitalization of $131.46 billion, a P/E ratio of 33.95, a PEG ratio of 2.52 and a beta of 0.67. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 earnings per share. Analysts predict that Nike Inc will post 2.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.07%. Nike’s dividend payout ratio is presently 36.36%.
A number of brokerages recently weighed in on NKE. Bank of America raised their price target on shares of Nike from $55.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, March 19th. Credit Suisse Group reissued a “buy” rating and issued a $97.00 target price on shares of Nike in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised their target price on shares of Nike from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Goldman Sachs Group set a $85.00 target price on shares of Nike and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have given a buy rating to the stock. Nike currently has an average rating of “Buy” and a consensus target price of $87.10.
In other news, EVP John F. Slusher sold 110,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total value of $9,352,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were 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 166,504 shares of company stock worth $14,320,816 over the last quarter. Company insiders own 3.90% of the company’s stock.
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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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