Nachman Norwood & Parrott Inc boosted its position in Nike Inc (NYSE:NKE) by 9.5% during the first quarter, HoldingsChannel.com reports. The fund owned 3,978 shares of the footwear maker’s stock after buying an additional 345 shares during the quarter. Nachman Norwood & Parrott Inc’s holdings in Nike were worth $336,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Next Capital Management LLC purchased a new position in shares of Nike during the fourth quarter worth about $26,000. Gemmer Asset Management LLC grew its holdings in shares of Nike by 54.2% during the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new position in shares of Nike during the fourth quarter worth about $34,000. Acima Private Wealth LLC purchased a new position in shares of Nike during the fourth quarter worth about $39,000. Finally, Proffitt & Goodson Inc. purchased a new position in shares of Nike during the fourth quarter worth about $44,000. Institutional investors and hedge funds own 65.62% of the company’s stock.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $82.00, for a total value of $12,300,000.00. Following the transaction, the chairman now owns 1,539,963 shares of the company’s stock, valued at $126,276,966. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Insiders have sold 426,500 shares of company stock worth $35,107,665 over the last ninety days. 3.90% of the stock is currently owned by insiders.
Shares of NKE stock opened at $87.80 on Wednesday. The firm has a market capitalization of $136.47 billion, a P/E ratio of 36.28, a PEG ratio of 2.61 and a beta of 0.67. Nike Inc has a twelve month low of $64.99 and a twelve month high of $88.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, equities analysts anticipate that Nike Inc will post 2.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.22 per share. The ex-dividend date was Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Nike’s dividend payout ratio (DPR) is presently 36.36%.
Several brokerages have recently commented on NKE. Piper Jaffray Companies set a $93.00 price objective on Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Macquarie set a $96.00 price objective on Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Credit Suisse Group set a $90.00 price objective on Nike and gave the stock a “buy” rating in a report on Wednesday, January 2nd. Citigroup began coverage on Nike in a report on Wednesday, April 10th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Nomura boosted their price objective on Nike from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $87.10.
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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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