State of Wisconsin Investment Board lowered its position in Nike Inc (NYSE:NKE) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,924,313 shares of the footwear maker’s stock after selling 12,495 shares during the period. State of Wisconsin Investment Board owned 0.12% of Nike worth $120,366,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NKE. Janus Henderson Group PLC raised its holdings in shares of Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after acquiring an additional 16,237,557 shares during the period. Capital World Investors raised its holdings in shares of Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Harding Loevner LP raised its holdings in shares of Nike by 97.1% during the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after acquiring an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd purchased a new position in shares of Nike during the 2nd quarter worth $226,588,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Nike by 25.5% during the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after acquiring an additional 3,033,280 shares during the period. Institutional investors own 65.76% of the company’s stock.
Nike Inc (NYSE NKE) traded up $0.03 during mid-day trading on Wednesday, reaching $66.20. The company had a trading volume of 6,456,979 shares, compared to its average volume of 7,980,000. The stock has a market capitalization of $108,010.00, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.02 and a beta of 0.68. Nike Inc has a 12-month low of $50.35 and a 12-month high of $70.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.
Nike (NYSE:NKE) last posted its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. research analysts predict that Nike Inc will post 2.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s payout ratio is 34.63%.
In other Nike news, COO Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the chief operating officer now owns 165,591 shares in the company, valued at $10,448,792.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,057,896 shares of company stock valued at $68,424,217. 3.90% of the stock is owned by company insiders.
Several analysts recently issued reports on the stock. Goldman Sachs Group set a $59.00 price objective on shares of Nike and gave the company a “neutral” rating in a report on Thursday, December 14th. HSBC lowered shares of Nike from a “buy” rating to a “hold” rating and boosted their price objective for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. Buckingham Research assumed coverage on shares of Nike in a report on Sunday, December 31st. They issued a “buy” rating and a $72.00 price objective on the stock. B. Riley boosted their price objective on shares of Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and an average price target of $66.10.
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Nike Company Profile
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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