Financial Counselors Inc. lessened its position in Nike Inc (NYSE:NKE) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,767 shares of the footwear maker’s stock after selling 3,064 shares during the quarter. Financial Counselors Inc.’s holdings in Nike were worth $2,613,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. YorkBridge Wealth Partners LLC lifted its holdings in shares of Nike by 0.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 26,169 shares of the footwear maker’s stock worth $1,535,000 after acquiring an additional 68 shares during the last quarter. Keel Point LLC increased its stake in Nike by 1.2% in the 2nd quarter. Keel Point LLC now owns 9,757 shares of the footwear maker’s stock worth $576,000 after buying an additional 119 shares during the period. Security National Bank of Sioux City Iowa IA increased its stake in Nike by 0.6% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 43,462 shares of the footwear maker’s stock worth $2,564,000 after buying an additional 250 shares during the period. Security National Bank of SO Dak increased its stake in Nike by 0.9% in the 2nd quarter. Security National Bank of SO Dak now owns 40,636 shares of the footwear maker’s stock worth $2,397,000 after buying an additional 365 shares during the period. Finally, Simmons Bank increased its stake in Nike by 1.9% in the 2nd quarter. Simmons Bank now owns 19,939 shares of the footwear maker’s stock worth $1,177,000 after buying an additional 376 shares during the period. Hedge funds and other institutional investors own 65.76% of the company’s stock.
Several research analysts recently commented on NKE shares. Stifel Nicolaus set a $74.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Friday, December 15th. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price target on shares of Nike in a research note on Friday, December 15th. Deutsche Bank set a $76.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, December 14th. Argus raised shares of Nike from a “hold” rating to a “buy” rating and raised their price target for the stock from $50.35 to $64.46 in a research note on Thursday, December 14th. Finally, DA Davidson set a $68.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $66.10.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. research analysts forecast that Nike Inc will post 2.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio (DPR) is presently 34.63%.
In related news, insider Eric D. Sprunk sold 100,000 shares of Nike stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the completion of the sale, the insider now directly owns 227,199 shares in the company, valued at approximately $15,372,284.34. The transaction 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 Nike stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The disclosure for this sale can be found here. Insiders sold a total of 1,057,896 shares of company stock valued at $68,424,217 over the last quarter. 3.90% of the stock is owned by company insiders.
ILLEGAL ACTIVITY WARNING: This piece of content was first published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/14/financial-counselors-inc-has-2-61-million-stake-in-nike-inc-nke.html.
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.
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.