Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in Nike Inc (NYSE:NKE) by 46.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,214 shares of the footwear maker’s stock after purchasing an additional 3,556 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Nike were worth $950,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. bought a new position in Nike in the second quarter worth approximately $104,000. BDO Wealth Advisors LLC raised its stake in Nike by 1,044.3% in the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after buying an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in Nike in the second quarter worth approximately $119,000. Tyvor Capital LLC bought a new position in Nike in the second quarter worth approximately $160,000. Finally, Cerebellum GP LLC bought a new position in Nike in the third quarter worth approximately $182,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.
In other news, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the sale, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at $8,708,881.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew Campion sold 2,907 shares of the business’s stock in a transaction on Tuesday, July 24th. The shares were sold at an average price of $76.85, for a total transaction of $223,402.95. The disclosure for this sale can be found here. Insiders have sold 72,778 shares of company stock worth $5,969,246 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Shares of NKE opened at $75.91 on Friday. The firm has a market cap of $135.60 billion, a PE ratio of 31.37, a P/E/G ratio of 2.81 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. Nike Inc has a 1-year low of $50.40 and a 1-year high of $86.04.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 earnings per share. Sell-side analysts anticipate that Nike Inc will post 2.63 EPS for the current fiscal year.
Nike announced that its board has approved a stock repurchase plan on Thursday, June 28th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the footwear maker to repurchase up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, August 31st. Nike’s dividend payout ratio (DPR) is presently 33.06%.
A number of equities analysts recently commented on the stock. Cowen set a $81.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Wednesday. Morningstar set a $75.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Friday, October 5th. Macquarie set a $98.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, October 4th. HSBC reissued a “neutral” rating and issued a $92.00 price objective on shares of Nike in a research note on Wednesday, October 3rd. Finally, Daiwa Capital Markets set a $85.00 price target on Nike and gave the stock a “hold” rating in a research report on Monday, October 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $84.60.
Nike Company Profile
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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