Motco reduced its position in Nike Inc (NYSE:NKE) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,614 shares of the footwear maker’s stock after selling 2,358 shares during the quarter. Motco’s holdings in Nike were worth $6,367,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Next Capital Management LLC acquired a new position in shares of Nike in the 4th quarter valued at about $26,000. Mackey Komara & Dankovich LLC acquired a new position in shares of Nike in the 1st quarter valued at about $30,000. Arcadia Investment Management Corp MI lifted its position in Nike by 45.4% during the 1st quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after acquiring an additional 128 shares in the last quarter. Clarfeld Financial Advisors LLC acquired a new position in Nike during the 4th quarter worth approximately $34,000. Finally, CenterStar Asset Management LLC lifted its position in Nike by 268.2% during the 1st quarter. CenterStar Asset Management LLC now owns 486 shares of the footwear maker’s stock worth $41,000 after acquiring an additional 775 shares in the last quarter. 65.70% of the stock is owned by institutional investors and hedge funds.
Shares of NKE stock traded down $0.17 during mid-day trading on Friday, reaching $83.44. The stock had a trading volume of 3,828,762 shares, compared to its average volume of 6,575,142. 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 Inc has a one year low of $66.53 and a one year high of $90.00. The company has a market capitalization of $129.87 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.10 and a beta of 0.76.
Nike (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm posted $0.68 EPS. Nike’s quarterly revenue was up 7.0% compared to the same quarter last year. Sell-side analysts predict that Nike Inc will post 2.54 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.05%. Nike’s dividend payout ratio is 36.36%.
Several equities analysts recently commented on NKE shares. UBS Group reissued a “neutral” rating and set a $86.00 price target on shares of Nike in a research report on Friday, February 15th. Wedbush lifted their price objective on Nike from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Telsey Advisory Group lifted their price objective on Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Credit Suisse Group lifted their price objective on Nike from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Finally, Needham & Company LLC lifted their price objective on Nike to $92.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $87.39.
In other Nike news, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.02, for a total value of $9,352,200.00. The disclosure for this sale can be found here. Insiders sold a total of 166,504 shares of company stock worth $14,320,816 over the last quarter. Corporate insiders own 3.90% of the company’s stock.
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.
Further Reading: Earnings Per Share
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