Stokes Capital Advisors LLC lifted its stake in Nike Inc (NYSE:NKE) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,734 shares of the footwear maker’s stock after acquiring an additional 752 shares during the period. Nike makes up 2.4% of Stokes Capital Advisors LLC’s portfolio, making the stock its 8th largest holding. Stokes Capital Advisors LLC’s holdings in Nike were worth $3,959,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Nike in the 2nd quarter valued at $104,000. BDO Wealth Advisors LLC boosted its stake in shares of Nike by 1,044.3% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after purchasing an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Nike in the 2nd quarter valued at $119,000. Tyvor Capital LLC acquired a new stake in shares of Nike in the 2nd quarter valued at $160,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Nike in the 3rd quarter valued at $182,000. Institutional investors and hedge funds own 63.97% of the company’s stock.
NKE has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Tuesday, June 19th. Barclays set a $80.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, June 19th. Stifel Nicolaus boosted their target price on shares of Nike from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, June 20th. UBS Group downgraded shares of Nike from a “buy” rating to a “neutral” rating and boosted their target price for the company from $76.00 to $78.00 in a research note on Thursday, June 21st. Finally, Robert W. Baird boosted their target price on shares of Nike from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, June 21st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the stock. Nike has an average rating of “Buy” and a consensus price target of $84.60.
In other Nike news, CFO Andrew Campion sold 2,907 shares of the business’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $76.85, for a total transaction of $223,402.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total value of $1,360,800.00. Following the sale, the director now directly owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold a total of 72,778 shares of company stock valued at $5,969,246 over the last three months. Company insiders own 3.90% of the company’s stock.
Nike stock opened at $75.91 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53. Nike Inc has a 12-month low of $50.40 and a 12-month high of $86.04. The stock has a market capitalization of $135.60 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same period in the previous year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Nike Inc will post 2.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 31st. This represents a $0.80 annualized dividend and a yield of 1.05%. Nike’s dividend payout ratio is currently 33.06%.
Nike announced that its Board of Directors has authorized a stock buyback program on Thursday, June 28th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the footwear maker to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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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