Cutler Investment Counsel LLC purchased a new position in shares of Nike Inc (NYSE:NKE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,373 shares of the footwear maker’s stock, valued at approximately $974,000.
Other hedge funds also recently added to or reduced their stakes in the company. Garrett Wealth Advisory Group LLC purchased a new position in Nike in the 3rd quarter worth about $26,000. Marquette Asset Management LLC acquired a new position in shares of Nike during the third quarter valued at $28,000. Candriam Luxembourg S.C.A. lifted its stake in shares of Nike by 97.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 145,904 shares during the period. Litman Gregory Asset Management LLC acquired a new position in shares of Nike during the second quarter valued at $31,000. Finally, KCS Wealth Advisory acquired a new position in shares of Nike during the third quarter valued at $38,000. 65.12% of the stock is owned by institutional investors and hedge funds.
NYSE:NKE opened at $94.14 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.29 and a current ratio of 2.01. The company has a market cap of $145.02 billion, a PE ratio of 37.81, a PEG ratio of 2.39 and a beta of 0.83. Nike Inc has a 52-week low of $66.53 and a 52-week high of $96.87. The stock has a 50-day simple moving average of $92.32 and a 200 day simple moving average of $86.86.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15. The business had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. Nike’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. On average, research analysts predict that Nike Inc will post 2.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Nike’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.04%. Nike’s dividend payout ratio (DPR) is presently 35.34%.
Several equities analysts have weighed in on NKE shares. Pivotal Research increased their target price on Nike from $101.00 to $104.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Exane BNP Paribas started coverage on Nike in a research note on Friday, October 4th. They issued an “underperform” rating and a $82.00 target price on the stock. Credit Suisse Group reissued a “buy” rating and issued a $112.00 target price on shares of Nike in a research note on Thursday, October 24th. Bank of America raised Nike from an “underperform” rating to a “neutral” rating and set a $98.00 target price on the stock in a research note on Monday, October 14th. Finally, Guggenheim reissued a “buy” rating on shares of Nike in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $97.40.
In related news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total transaction of $1,527,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elliott Hill sold 2,770 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 436,445 shares of company stock valued at $40,260,653. 3.80% of the stock is owned by corporate insiders.
Nike Company Profile
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: How to track put option volume
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.