Raab & Moskowitz Asset Management LLC trimmed its stake in Nike Inc (NYSE:NKE) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,980 shares of the footwear maker’s stock after selling 1,360 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Nike were worth $1,812,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Field & Main Bank acquired a new stake in Nike during the 4th quarter worth about $100,000. Willingdon Wealth Management acquired a new stake in Nike during the 3rd quarter worth about $114,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in Nike during the 4th quarter worth about $116,000. SeaCrest Wealth Management LLC acquired a new stake in Nike during the 4th quarter worth about $128,000. Finally, First Dallas Securities Inc. acquired a new stake in Nike during the 4th quarter worth about $128,000. Institutional investors and hedge funds own 65.76% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) opened at $66.17 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The company has a market cap of $108,712.06, a PE ratio of 28.93, a price-to-earnings-growth ratio of 3.02 and a beta of 0.68. Nike Inc has a one year low of $50.35 and a one year high of $70.25.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 2nd. This represents a $0.80 annualized dividend and a yield of 1.21%. Nike’s dividend payout ratio (DPR) is 34.63%.
In other news, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the completion of the sale, the executive vice president now owns 268,169 shares in the company, valued at approximately $16,918,782.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,057,896 shares of company stock valued at $68,424,217. Company insiders own 3.90% of the company’s stock.
A number of analysts have weighed in on NKE shares. Stifel Nicolaus set a $74.00 price target on Nike and gave the stock a “buy” rating in a report on Friday, December 15th. Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Nike in a report on Friday, December 15th. Deutsche Bank set a $76.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Argus raised shares of Nike from a “hold” rating to a “buy” rating and increased their price objective for the stock from $50.35 to $64.46 in a research report on Thursday, December 14th. Finally, DA Davidson set a $68.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, December 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $66.10.
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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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