Cambridge Investment Research Advisors Inc. grew its holdings in Nike Inc (NYSE:NKE) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,201 shares of the footwear maker’s stock after purchasing an additional 1,667 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Nike were worth $4,863,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Koch Industries Inc. acquired a new position in shares of Nike in the fourth quarter worth $286,000. AustralianSuper Pty Ltd increased its position in Nike by 16.6% during the third quarter. AustralianSuper Pty Ltd now owns 1,955,000 shares of the footwear maker’s stock worth $101,367,000 after buying an additional 278,600 shares during the last quarter. LPL Financial LLC increased its position in Nike by 3.6% during the fourth quarter. LPL Financial LLC now owns 215,542 shares of the footwear maker’s stock worth $13,482,000 after buying an additional 7,497 shares during the last quarter. Cognios Capital LLC increased its position in Nike by 2.6% during the fourth quarter. Cognios Capital LLC now owns 38,284 shares of the footwear maker’s stock worth $2,394,000 after buying an additional 978 shares during the last quarter. Finally, Quadrant Capital Management LLC increased its position in Nike by 3.8% during the fourth quarter. Quadrant Capital Management LLC now owns 35,514 shares of the footwear maker’s stock worth $2,221,000 after buying an additional 1,302 shares during the last quarter. Institutional investors own 64.16% of the company’s stock.
NYSE NKE traded up $0.59 on Thursday, hitting $74.70. 4,533,165 shares of the company were exchanged, compared to its average volume of 7,287,670. Nike Inc has a 12 month low of $50.35 and a 12 month high of $75.91. The firm has a market cap of $121.35 billion, a PE ratio of 29.76, a P/E/G ratio of 3.15 and a beta of 0.66. The company has a quick ratio of 1.73, a current ratio of 2.66 and a debt-to-equity ratio of 0.35.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. equities analysts predict that Nike Inc will post 2.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 5th. Stockholders of record on Monday, June 4th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. Nike’s payout ratio is 31.87%.
Several research firms have commented on NKE. Macquarie set a $80.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Thursday. Credit Suisse Group set a $78.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday. Wedbush reiterated an “outperform” rating and issued a $82.00 target price (up previously from $75.00) on shares of Nike in a research note on Thursday. Jefferies Financial Group reiterated a “neutral” rating and issued a $68.00 target price on shares of Nike in a research note on Wednesday. Finally, Wells Fargo & Co restated a “market perform” rating and set a $74.00 price target (up previously from $62.00) on shares of Nike in a research note on Sunday. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-five have given a buy rating to the company. Nike currently has a consensus rating of “Hold” and a consensus target price of $70.02.
In related news, insider Eric D. Sprunk sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $72.00, for a total transaction of $3,240,000.00. Following the completion of the transaction, the insider now owns 186,959 shares of the company’s stock, valued at $13,461,048. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The stock was sold at an average price of $75.00, for a total transaction of $1,275,000.00. Following the completion of the sale, the executive vice president now owns 95,845 shares of the company’s stock, valued at $7,188,375. The disclosure for this sale can be found here. Insiders sold 292,000 shares of company stock valued at $21,204,500 in the last quarter. Corporate insiders own 3.90% of the company’s stock.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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