Winslow Capital Management LLC boosted its holdings in shares of Nike Inc (NYSE:NKE) by 17.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,983,333 shares of the footwear maker’s stock after purchasing an additional 742,148 shares during the period. Nike accounts for approximately 1.7% of Winslow Capital Management LLC’s holdings, making the stock its 21st largest holding. Winslow Capital Management LLC owned approximately 0.31% of Nike worth $311,708,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Nike in the 4th quarter valued at $116,000. Oak Grove Capital LLC acquired a new stake in shares of Nike in the 4th quarter valued at $952,000. Madison Investment Holdings Inc. acquired a new stake in shares of Nike in the 4th quarter valued at $226,000. Eaton Vance Management increased its stake in shares of Nike by 14.0% in the 4th quarter. Eaton Vance Management now owns 5,986,630 shares of the footwear maker’s stock valued at $374,464,000 after buying an additional 734,583 shares during the period. Finally, Standard Life Aberdeen plc increased its stake in shares of Nike by 1.2% in the 4th quarter. Standard Life Aberdeen plc now owns 293,562 shares of the footwear maker’s stock valued at $18,373,000 after buying an additional 3,495 shares during the period. 65.76% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike Inc (NYSE NKE) opened at $66.17 on Wednesday. The company has a market capitalization of $108,712.06, a PE ratio of 28.93, a PEG ratio of 3.02 and a beta of 0.68. Nike Inc has a twelve month low of $50.35 and a twelve month high of $70.25. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. Nike’s dividend payout ratio (DPR) is 34.63%.
Several equities research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 target price on shares of Nike in a research note on Friday, December 22nd. Wedbush reissued an “outperform” rating and issued a $74.00 target price on shares of Nike in a research note on Monday. Cowen set a $64.00 target price on Nike and gave the company a “hold” rating in a research note on Thursday, January 11th. Macquarie set a $72.00 target price on Nike and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Credit Suisse Group assumed coverage on Nike in a research note on Monday. They issued an “outperform” rating and a $78.00 target price for the company. Three investment 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 company. The stock has an average rating of “Buy” and an average target price of $66.10.
In other news, insider Eric D. Sprunk sold 226,040 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $114,641,520. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,057,896 shares of company stock worth $68,424,217. Corporate insiders own 3.90% of the company’s stock.
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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