Hartford Investment Management Co. lowered its stake in shares of Nike Inc (NYSE:NKE) by 0.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 357,657 shares of the footwear maker’s stock after selling 3,065 shares during the period. Hartford Investment Management Co.’s holdings in Nike were worth $18,545,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Lau Associates LLC raised its position in Nike by 1.6% in the second quarter. Lau Associates LLC now owns 24,675 shares of the footwear maker’s stock worth $1,456,000 after purchasing an additional 400 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC raised its position in Nike by 0.5% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 32,433 shares of the footwear maker’s stock worth $1,913,000 after purchasing an additional 150 shares in the last quarter. Stock Yards Bank & Trust Co. raised its position in Nike by 2.3% in the second quarter. Stock Yards Bank & Trust Co. now owns 250,302 shares of the footwear maker’s stock worth $14,767,000 after purchasing an additional 5,557 shares in the last quarter. Guinness Asset Management Ltd raised its position in Nike by 25.2% in the second quarter. Guinness Asset Management Ltd now owns 62,763 shares of the footwear maker’s stock worth $3,703,000 after purchasing an additional 12,650 shares in the last quarter. Finally, Prentiss Smith & Co. Inc. raised its position in Nike by 9.6% in the second quarter. Prentiss Smith & Co. Inc. now owns 9,093 shares of the footwear maker’s stock worth $536,000 after purchasing an additional 798 shares in the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares in the company, valued at $1,441,376. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock worth $60,257,267 over the last three months. 3.90% of the stock is owned by insiders.
Several research analysts recently issued reports on the stock. Goldman Sachs Group set a $59.00 price target on shares of Nike and gave the stock a “neutral” rating in a research report on Thursday, December 14th. HSBC lowered shares of Nike from a “buy” rating to a “hold” rating and increased their price target for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Buckingham Research assumed coverage on shares of Nike in a research report on Sunday, December 31st. They issued a “buy” rating and a $72.00 price target for the company. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, B. Riley upped their price objective on shares of Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $64.40.
Shares of Nike Inc (NYSE:NKE) opened at $64.67 on Friday. Nike Inc has a 52 week low of $50.35 and a 52 week high of $65.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The company has a market cap of $105,510.00, a P/E ratio of 28.00, a PEG ratio of 2.92 and a beta of 0.64.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. Nike’s revenue was up 4.6% compared to the same quarter last year. analysts anticipate that Nike Inc will post 2.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were paid a dividend of $0.20 per share. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Friday, December 1st. Nike’s dividend payout ratio is 34.63%.
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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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