Marshall Wace North America L.P. lifted its holdings in Nike Inc (NYSE:NKE) by 2,966.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 275,883 shares of the footwear maker’s stock after buying an additional 266,886 shares during the quarter. Marshall Wace North America L.P.’s holdings in Nike were worth $23,372,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new stake in Nike during the 2nd quarter valued at $104,000. BDO Wealth Advisors LLC boosted its position in Nike by 1,044.3% during the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after acquiring an additional 1,274 shares in the last quarter. Resources Management Corp CT ADV bought a new stake in Nike during the 3rd quarter valued at $113,000. Stelac Advisory Services LLC bought a new stake in Nike during the 3rd quarter valued at $115,000. Finally, CSat Investment Advisory L.P. bought a new stake in Nike during the 2nd quarter valued at $119,000. Institutional investors own 64.09% of the company’s stock.
Several analysts have issued reports on the company. Wedbush increased their target price on Nike from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, September 10th. Morgan Stanley reaffirmed a “buy” rating and set a $88.00 target price on shares of Nike in a research report on Wednesday, September 12th. Telsey Advisory Group increased their target price on Nike from $87.00 to $92.00 and gave the company an “outperform” rating in a research report on Tuesday, September 18th. Wells Fargo & Co set a $82.00 target price on Nike and gave the company a “hold” rating in a research report on Monday, September 10th. Finally, B. Riley reaffirmed a “neutral” rating and set a $84.00 target price (up previously from $76.00) on shares of Nike in a research report on Wednesday, September 19th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $85.85.
In other Nike news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the completion of the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at approximately $8,902,645. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the transaction, the director now owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by insiders.
Shares of NKE opened at $73.34 on Friday. Nike Inc has a one year low of $60.13 and a one year 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. The stock has a market cap of $119.97 billion, a price-to-earnings ratio of 30.31, a PEG ratio of 2.36 and a beta of 0.76.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $9.92 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Nike Inc will post 2.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.20%. This is a boost from Nike’s previous quarterly dividend of $0.20. Nike’s payout ratio is currently 36.36%.
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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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