Tobam lessened its position in NIKE, Inc. (NYSE:NKE – Free Report) by 39.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,973 shares of the footwear maker’s stock after selling 14,440 shares during the quarter. Tobam’s holdings in NIKE were worth $1,400,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of NKE. Cornerstone Financial Management LLC bought a new position in NIKE during the fourth quarter valued at about $26,000. J.Safra Asset Management Corp bought a new stake in NIKE in the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new stake in NIKE in the 4th quarter valued at about $30,000. Litman Gregory Wealth Management LLC acquired a new stake in NIKE in the 4th quarter valued at about $32,000. Finally, Prosperity Bancshares Inc bought a new position in shares of NIKE during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 64.25% of the company’s stock.
Key Stories Impacting NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Barclays reiterated a Buy rating on NIKE, which can support sentiment by signaling that analysts still see upside in the stock. Barclays Remains a Buy on Nike (NKE)
- Positive Sentiment: NIKE outperformed the broader market in the latest trading session, suggesting traders may be positioning ahead of upcoming earnings and looking for signs that the turnaround is taking hold. Nike (NKE) Outperforms Broader Market: What You Need to Know
- Positive Sentiment: Coverage highlighted stronger traction in one major market and signs that NIKE’s recovery is gaining momentum, which could improve confidence in the company’s earnings outlook. Headed Into Earnings, Nike Stock Is Trading Lower Than It Was a Decade Ago. But Is the Turnaround Finally Working?
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on NKE
Insider Activity at NIKE
In other NIKE news, CEO Elliott Hill bought 23,660 shares of the company’s stock in a transaction dated Monday, April 13th. The shares were bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 64,441 shares of company stock worth $2,734,204. Company insiders own 0.80% of the company’s stock.
NIKE Price Performance
NKE opened at $45.22 on Friday. The stock has a fifty day moving average of $44.39 and a 200-day moving average of $54.79. The firm has a market capitalization of $66.97 billion, a P/E ratio of 29.95, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the firm posted $0.54 earnings per share. NIKE’s revenue was up .1% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 1.49 EPS for the current fiscal year.
NIKE Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.
NIKE Company Profile
Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.
The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).
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