Mainstay Capital Management LLC ADV reduced its holdings in Nike Inc (NYSE:NKE) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,441 shares of the footwear maker’s stock after selling 235 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Nike were worth $1,666,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in NKE. Nuveen Asset Management LLC boosted its holdings in shares of Nike by 6,608.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 14,363,870 shares of the footwear maker’s stock valued at $1,205,847,000 after acquiring an additional 14,149,753 shares during the last quarter. BlackRock Inc. boosted its holdings in Nike by 2.2% during the second quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after buying an additional 1,883,150 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in Nike during the second quarter worth $106,608,000. Man Group plc boosted its holdings in Nike by 110.1% during the third quarter. Man Group plc now owns 2,107,158 shares of the footwear maker’s stock worth $197,887,000 after buying an additional 1,104,295 shares in the last quarter. Finally, Broad Peak Investment Holdings Ltd. purchased a new stake in Nike during the third quarter worth $75,136,000. 65.08% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the stock. Citigroup increased their price target on shares of Nike from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Oppenheimer increased their price target on shares of Nike from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. increased their price target on shares of Nike from $109.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Pivotal Research increased their price target on shares of Nike from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Finally, Wedbush reissued an “outperform” rating and set a $110.00 price target (up from $100.00) on shares of Nike in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $106.19.
NKE opened at $104.53 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. The company has a market cap of $162.79 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.49 and a beta of 0.84. Nike Inc has a 52-week low of $77.07 and a 52-week high of $103.89. The firm’s fifty day simple moving average is $100.08 and its two-hundred day simple moving average is $91.35.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.12. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.09 billion. Nike had a net margin of 11.21% and a return on equity of 50.03%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. On average, research analysts forecast that Nike Inc will post 3.01 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.94%. This is a boost from Nike’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, November 29th. Nike’s dividend payout ratio is 39.36%.
In other news, CAO Hilary K. Krane sold 32,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $89.30, for a total value of $2,902,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $101.26, for a total transaction of $11,138,600.00. The disclosure for this sale can be found here. Insiders sold 477,916 shares of company stock valued at $46,659,474 over the last quarter. Company insiders own 3.80% 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.
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