Parsons Capital Management Inc. RI reduced its stake in shares of Nike Inc (NYSE:NKE) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,293 shares of the footwear maker’s stock after selling 870 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Nike were worth $5,161,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in Nike by 42.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock worth $158,219,000 after buying an additional 635,410 shares in the last quarter. Hollencrest Capital Management purchased a new stake in Nike in the first quarter valued at $202,000. WealthTrust Fairport LLC raised its position in Nike by 2.7% in the fourth quarter. WealthTrust Fairport LLC now owns 60,157 shares of the footwear maker’s stock valued at $4,460,000 after purchasing an additional 1,604 shares during the period. Tiemann Investment Advisors LLC raised its position in Nike by 2.4% in the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 125 shares during the period. Finally, Brinker Capital Inc. raised its position in Nike by 4.1% in the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock valued at $6,375,000 after purchasing an additional 3,400 shares during the period. 65.71% of the stock is currently owned by institutional investors.
NKE has been the topic of a number of research analyst reports. Morgan Stanley set a $103.00 target price on Nike and gave the company a “buy” rating in a research report on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $96.00 target price on shares of Nike in a research report on Friday, March 22nd. Rowe upgraded Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Friday, February 8th. Zacks Investment Research downgraded Nike from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Finally, Cowen set a $90.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $87.39.
Shares of NYSE NKE traded down $2.33 during trading hours on Wednesday, reaching $78.87. The stock had a trading volume of 9,896,872 shares, compared to its average volume of 6,811,159. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. The stock has a market cap of $129.13 billion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 2.48 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.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Sell-side analysts anticipate that Nike Inc will post 2.54 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, May 31st. Nike’s dividend payout ratio (DPR) is 36.36%.
In other news, EVP John F. Slusher sold 110,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $85.02, for a total transaction of $9,352,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,504 shares of company stock valued at $14,320,816. Company insiders own 3.90% of the company’s stock.
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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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