Rathbone Brothers plc lessened its holdings in Nike Inc (NYSE:NKE) by 32.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,068 shares of the footwear maker’s stock after selling 41,884 shares during the period. Rathbone Brothers plc’s holdings in Nike were worth $7,292,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TMD & Associates Inc. bought a new stake in Nike in the third quarter worth $354,000. Stokes Capital Advisors LLC increased its position in Nike by 1.6% in the third quarter. Stokes Capital Advisors LLC now owns 46,734 shares of the footwear maker’s stock worth $3,959,000 after purchasing an additional 752 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in Nike by 46.4% in the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 11,214 shares of the footwear maker’s stock worth $950,000 after purchasing an additional 3,556 shares during the last quarter. Gofen & Glossberg LLC IL increased its position in Nike by 0.7% in the third quarter. Gofen & Glossberg LLC IL now owns 339,101 shares of the footwear maker’s stock worth $28,729,000 after purchasing an additional 2,412 shares during the last quarter. Finally, Contravisory Investment Management Inc. increased its position in Nike by 12,995.2% in the third quarter. Contravisory Investment Management Inc. now owns 46,488 shares of the footwear maker’s stock worth $3,938,000 after purchasing an additional 46,133 shares during the last quarter. Institutional investors own 63.97% of the company’s stock.
In other news, CFO Andrew Campion sold 4,130 shares of the business’s stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $76.76, for a total transaction of $317,018.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $76.07, for a total transaction of $760,700.00. Following the sale, the executive vice president now directly owns 86,774 shares of the company’s stock, valued at $6,600,898.18. The disclosure for this sale can be found here. Insiders have sold 72,778 shares of company stock valued at $5,969,246 over the last three months. Insiders own 3.90% of the company’s stock.
A number of research analysts have weighed in on NKE shares. Zacks Investment Research cut shares of Nike from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Nomura boosted their price objective on shares of Nike from $74.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 29th. Piper Jaffray Companies boosted their price objective on shares of Nike to $72.00 and gave the company a “neutral” rating in a research report on Friday, June 29th. Wedbush boosted their price objective on shares of Nike from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. Finally, Sanford C. Bernstein boosted their price objective on shares of Nike from $76.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, June 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $84.60.
Shares of NKE opened at $75.91 on Friday. The firm has a market cap of $135.60 billion, a PE ratio of 31.37, a P/E/G ratio of 2.81 and a beta of 0.65. Nike Inc has a 12-month low of $50.40 and a 12-month high of $86.04. The company has a quick ratio of 1.53, a current ratio of 2.31 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Analysts predict that Nike Inc will post 2.63 EPS for the current year.
Nike announced that its board has authorized a share buyback program on Thursday, June 28th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the footwear maker to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, August 31st. Nike’s dividend payout ratio is currently 33.06%.
Nike Company Profile
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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