Fideuram Asset Management Ireland dac acquired a new stake in NIKE, Inc. (NYSE:NKE – Free Report) during the fourth quarter, HoldingsChannel reports. The firm acquired 31,211 shares of the footwear maker’s stock, valued at approximately $1,988,000.
A number of other hedge funds have also made changes to their positions in the business. Main Street Financial Solutions LLC increased its holdings in shares of NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares during the last quarter. Diligent Investors LLC increased its holdings in shares of NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after acquiring an additional 153 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after acquiring an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. increased its holdings in shares of NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after acquiring an additional 165 shares during the last quarter. Finally, TPG Financial Advisors LLC increased its holdings in shares of NIKE by 4.8% in the 3rd quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker’s stock valued at $256,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
Insider Buying and Selling
In related news, Director John W. Rogers, Jr. acquired 4,000 shares of the firm’s stock in a transaction on 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 transaction, the director owned 41,022 shares of the company’s stock, valued at $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Elliott Hill acquired 23,660 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were bought at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last 90 days. Insiders own 0.80% of the company’s stock.
NIKE Stock Down 2.5%
NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts forecast that NIKE, Inc. will post 1.51 earnings per share for the current year.
NIKE Announces Dividend
The business 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. This represents a $1.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is presently 108.61%.
Analyst Ratings Changes
A number of research analysts have recently commented on the company. HSBC downgraded NIKE from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $48.00 in a report on Monday, April 13th. BTIG Research decreased their target price on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Stifel Nicolaus decreased their target price on NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Wednesday, April 1st. Robert W. Baird decreased their target price on NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Finally, BNP Paribas Exane decreased their target price on NIKE from $35.00 to $23.00 and set an “underperform” rating for the company in a research report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.04.
Read Our Latest Analysis on NKE
NIKE 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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