Icon Advisers Inc. Co. increased its position in Nike Inc (NYSE:NKE) by 10.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 193,453 shares of the footwear maker’s stock after purchasing an additional 19,030 shares during the quarter. Nike accounts for 1.6% of Icon Advisers Inc. Co.’s portfolio, making the stock its 10th biggest holding. Icon Advisers Inc. Co.’s holdings in Nike were worth $16,291,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Oregon Public Employees Retirement Fund lifted its position in shares of Nike by 6,517.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock worth $476,000 after buying an additional 34,749,961 shares in the last quarter. Norges Bank bought a new position in shares of Nike during the 4th quarter worth approximately $892,899,000. BlackRock Inc. lifted its position in shares of Nike by 4.3% during the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after buying an additional 3,592,186 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new position in shares of Nike during the 4th quarter worth approximately $224,658,000. Finally, Jennison Associates LLC lifted its position in shares of Nike by 10.7% during the 4th quarter. Jennison Associates LLC now owns 17,818,715 shares of the footwear maker’s stock worth $1,321,080,000 after buying an additional 1,723,608 shares in the last quarter. Institutional investors own 65.94% of the company’s stock.
In other news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders sold 166,504 shares of company stock valued at $14,320,816 over the last three months. 3.90% of the stock is currently owned by insiders.
Several research firms have commented on NKE. Telsey Advisory Group lifted their target price on shares of Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, March 18th. Wells Fargo & Co lifted their target price on shares of Nike from $76.00 to $80.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Bank of America lifted their target price on shares of Nike from $55.00 to $60.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 19th. Rowe raised shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Friday, February 8th. Finally, Citigroup assumed coverage on shares of Nike in a research note on Wednesday, April 10th. They issued a “buy” rating and a $100.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company. Nike currently has a consensus rating of “Buy” and an average price target of $87.10.
Nike stock opened at $83.67 on Thursday. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $129.72 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. Nike Inc has a twelve month low of $66.53 and a twelve month high of $90.00.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities analysts anticipate that Nike Inc will post 2.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, May 31st. Nike’s dividend payout ratio is presently 36.36%.
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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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