Bartlett & Co. LLC lifted its stake in Nike Inc (NYSE:NKE) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 391,424 shares of the footwear maker’s stock after buying an additional 9,789 shares during the period. Bartlett & Co. LLC’s holdings in Nike were worth $20,295,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Asset Planning Services Ltd. grew its position in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares during the last quarter. Atlantic Trust LLC purchased a new position in shares of Nike in the 2nd quarter valued at $136,000. Howe & Rusling Inc. grew its position in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after buying an additional 2,329 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nike Inc (NYSE NKE) traded up $2.00 during midday trading on Wednesday, hitting $64.17. 9,469,666 shares of the company traded hands, compared to its average volume of 9,538,237. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. Nike Inc has a 12-month low of $50.35 and a 12-month high of $62.53. The firm has a market capitalization of $101,007.22, a PE ratio of 26.34, a price-to-earnings-growth ratio of 2.90 and a beta of 0.64.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the business earned $0.73 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. research analysts forecast that Nike Inc will post 2.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be paid a $0.20 dividend. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. Nike’s dividend payout ratio (DPR) is 34.04%.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares in the company, valued at $1,371,527. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
A number of brokerages recently weighed in on NKE. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and increased their price target for the stock from $58.95 to $62.00 in a research note on Tuesday, November 28th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Citigroup reiterated a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Goldman Sachs Group reiterated a “buy” rating and set a $58.00 price target (down previously from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, Vetr cut shares of Nike from a “buy” rating to a “hold” rating and set a $57.75 price target for the company. in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and twenty have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.27.
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Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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