Pittenger & Anderson Inc. grew its stake in Nike Inc (NYSE:NKE) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,490 shares of the footwear maker’s stock after buying an additional 1,360 shares during the period. Pittenger & Anderson Inc.’s holdings in Nike were worth $6,819,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. ST Germain D J Co. Inc. increased its stake in shares of Nike by 9.3% in the second quarter. ST Germain D J Co. Inc. now owns 7,763 shares of the footwear maker’s stock worth $619,000 after purchasing an additional 660 shares during the period. Norway Savings Bank increased its stake in shares of Nike by 17.5% in the second quarter. Norway Savings Bank now owns 4,610 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 685 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Nike by 0.3% in the second quarter. Peregrine Capital Management LLC now owns 223,178 shares of the footwear maker’s stock worth $17,783,000 after purchasing an additional 689 shares during the period. Barrett Asset Management LLC increased its stake in shares of Nike by 3.2% in the second quarter. Barrett Asset Management LLC now owns 22,449 shares of the footwear maker’s stock worth $1,789,000 after purchasing an additional 700 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Nike by 1.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 49,366 shares of the footwear maker’s stock worth $3,932,000 after purchasing an additional 703 shares during the period. 63.97% of the stock is owned by institutional investors.
In other news, CFO Andrew Campion sold 2,907 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $76.85, for a total value of $223,402.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the completion of the sale, the executive vice president now owns 104,737 shares in the company, valued at $8,708,881.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,778 shares of company stock worth $5,969,246. Corporate insiders own 3.90% of the company’s stock.
A number of equities analysts have recently commented on NKE shares. TheStreet upgraded Nike from a “c+” rating to a “b+” rating in a research note on Thursday, June 28th. Deutsche Bank lifted their price objective on Nike from $84.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, June 29th. Credit Suisse Group set a $90.00 price objective on Nike and gave the stock a “buy” rating in a research note on Friday, June 29th. Stifel Nicolaus lifted their price objective on Nike from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, June 20th. Finally, Barclays set a $80.00 price objective on Nike and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $84.60.
Shares of NKE opened at $75.91 on Friday. Nike Inc has a 12-month low of $50.40 and a 12-month high of $86.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. The stock has a market cap of $135.60 billion, a P/E ratio of 31.37, a PEG ratio of 2.81 and a beta of 0.65.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same period in the prior year, the company posted $0.57 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that Nike Inc will post 2.63 EPS for the current fiscal year.
Nike announced that its board has authorized a stock repurchase plan on Thursday, June 28th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the footwear maker to purchase up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Nike’s dividend payout ratio is currently 33.06%.
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.
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