Investec Asset Management LTD lifted its position in shares of Nike Inc (NYSE:NKE) by 56.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,985 shares of the footwear maker’s stock after buying an additional 114,583 shares during the period. Investec Asset Management LTD’s holdings in Nike were worth $19,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baker Chad R increased its holdings in shares of Nike by 5.1% during the 4th quarter. Baker Chad R now owns 66,435 shares of the footwear maker’s stock worth $4,155,000 after buying an additional 3,200 shares during the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Nike during the 4th quarter worth approximately $10,759,000. Financial Gravity Companies Inc. acquired a new stake in Nike in the 4th quarter valued at approximately $292,000. Dorsey & Whitney Trust CO LLC acquired a new stake in Nike in the 4th quarter valued at approximately $217,000. Finally, Burney Co. increased its holdings in Nike by 5.8% in the 4th quarter. Burney Co. now owns 26,722 shares of the footwear maker’s stock valued at $1,671,000 after purchasing an additional 1,466 shares during the last quarter. Institutional investors and hedge funds own 65.76% of the company’s stock.
In related news, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the completion of the sale, the insider now directly owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,047,802 shares of company stock valued at $67,768,107. 3.90% of the stock is owned by corporate insiders.
Several analysts recently weighed in on NKE shares. Vetr downgraded shares of Nike from a “buy” rating to a “hold” rating and set a $58.81 target price for the company. in a report on Friday, November 17th. Robert W. Baird reiterated a “buy” rating and issued a $65.00 target price on shares of Nike in a report on Friday, November 17th. HSBC downgraded shares of Nike from a “buy” rating to a “hold” rating and lifted their target price for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. OTR Global upgraded shares of Nike to a “positive” rating in a report on Monday, December 11th. Finally, Susquehanna Bancshares reiterated a “hold” rating and issued a $57.00 target price on shares of Nike in a report on Wednesday, December 13th. Three 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. The stock currently has a consensus rating of “Buy” and an average price target of $66.10.
Shares of Nike Inc (NYSE NKE) opened at $65.91 on Friday. The stock has a market cap of $108,012.48, a price-to-earnings ratio of 28.74, a PEG ratio of 3.00 and a beta of 0.68. Nike Inc has a 1 year low of $50.35 and a 1 year 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 released its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. research analysts anticipate that Nike Inc will post 2.26 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. Nike’s dividend payout ratio (DPR) is currently 34.63%.
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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