Strategic Capital Advisers Inc. bought a new position in shares of Nike (NYSE:NKE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,087 shares of the footwear maker’s stock, valued at approximately $2,195,000. Nike makes up 2.2% of Strategic Capital Advisers Inc.’s holdings, making the stock its 16th largest position.
Other hedge funds have also modified their holdings of the company. Bank of Nova Scotia Trust Co. increased its stake in Nike by 5.2% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 81,616 shares of the footwear maker’s stock valued at $5,106,000 after purchasing an additional 4,060 shares in the last quarter. Koch Industries Inc. purchased a new position in Nike in the 4th quarter valued at approximately $286,000. Kings Point Capital Management increased its stake in Nike by 6,387.6% in the 4th quarter. Kings Point Capital Management now owns 30,232 shares of the footwear maker’s stock valued at $1,891,000 after purchasing an additional 29,766 shares in the last quarter. Truewealth LLC purchased a new position in Nike in the 4th quarter valued at approximately $358,000. Finally, Israel Discount Bank of New York increased its stake in Nike by 14.7% in the 4th quarter. Israel Discount Bank of New York now owns 14,872 shares of the footwear maker’s stock valued at $930,000 after purchasing an additional 1,910 shares in the last quarter. 65.65% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 912,802 shares of company stock worth $58,993,107. Corporate insiders own 3.90% of the company’s stock.
Several equities analysts have weighed in on the company. Goldman Sachs set a $59.00 price target on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 14th. HSBC downgraded Nike from a “buy” rating to a “hold” rating and raised their price target for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a research report on Sunday, December 31st. They set a “buy” rating and a $72.00 price target for the company. B. Riley raised their price target on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price target on Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $66.34.
Shares of Nike (NKE) opened at $65.71 on Tuesday. Nike has a 52-week low of $50.35 and a 52-week high of $70.25. The stock has a market capitalization of $107,231.55, a PE ratio of 28.45, a PEG ratio of 2.98 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. research analysts predict that Nike will post 2.26 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s payout ratio is 34.63%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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