CIBC Asset Management Inc lifted its holdings in Nike Inc (NYSE:NKE) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 148,746 shares of the footwear maker’s stock after purchasing an additional 14,174 shares during the period. CIBC Asset Management Inc’s holdings in Nike were worth $11,028,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of NKE. Gemmer Asset Management LLC increased its stake in shares of Nike by 54.2% in the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Acima Private Wealth LLC bought a new position in shares of Nike in the fourth quarter worth about $39,000. Proffitt & Goodson Inc. bought a new position in shares of Nike in the fourth quarter worth about $44,000. Athena Capital Advisors LLC bought a new position in shares of Nike in the fourth quarter worth about $56,000. Finally, Ruggie Capital Group increased its stake in shares of Nike by 40.7% in the fourth quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock worth $60,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 64.85% of the company’s stock.
A number of equities analysts have recently commented on the company. Wedbush lifted their price objective on Nike from $90.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group reiterated a “neutral” rating and issued a $86.00 price objective on shares of Nike in a research note on Friday, February 15th. Oppenheimer boosted their price target on Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 8th. Rowe upgraded Nike from a “sell” rating to an “outperform” rating and set a $100.00 price target on the stock in a research note on Friday, February 8th. Finally, Cowen upgraded Nike from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $90.00 in a research note on Tuesday, January 22nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $84.59.
NKE stock opened at $86.80 on Friday. Nike Inc has a 1-year low of $63.21 and a 1-year high of $87.99. The company has a market capitalization of $136.72 billion, a PE ratio of 35.87, a P/E/G ratio of 2.64 and a beta of 0.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Analysts forecast that Nike Inc will post 2.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be paid a $0.22 dividend. The ex-dividend date is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. Nike’s dividend payout ratio is currently 36.36%.
In other news, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $78.00, for a total value of $11,700,000.00. Following the completion of the transaction, the chairman now directly owns 1,687,863 shares in the company, valued at $131,653,314. The disclosure for this sale can be found here. Over the last quarter, insiders sold 800,000 shares of company stock worth $61,862,000. Corporate insiders own 3.90% of the company’s stock.
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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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