National Asset Management Inc. grew its stake in shares of Nike Inc (NYSE:NKE) by 15.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,059 shares of the footwear maker’s stock after acquiring an additional 2,097 shares during the period. National Asset Management Inc.’s holdings in Nike were worth $1,330,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Solstein Capital LLC acquired a new position in Nike in the 4th quarter valued at $236,000. K.J. Harrison & Partners Inc boosted its position in Nike by 67.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 32,347 shares of the footwear maker’s stock worth $3,277,000 after purchasing an additional 13,000 shares during the period. 1832 Asset Management L.P. boosted its position in Nike by 81.7% during the 4th quarter. 1832 Asset Management L.P. now owns 4,485,657 shares of the footwear maker’s stock worth $454,422,000 after purchasing an additional 2,016,633 shares during the period. Fosun International Ltd boosted its position in Nike by 27.9% during the 4th quarter. Fosun International Ltd now owns 24,387 shares of the footwear maker’s stock worth $2,477,000 after purchasing an additional 5,320 shares during the period. Finally, Ascent Wealth Partners LLC boosted its position in Nike by 0.4% during the 4th quarter. Ascent Wealth Partners LLC now owns 25,893 shares of the footwear maker’s stock worth $2,624,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 65.08% of the company’s stock.
NYSE:NKE traded down $0.51 during midday trading on Friday, reaching $93.75. The stock had a trading volume of 4,040,519 shares, compared to its average volume of 6,715,255. Nike Inc has a 1-year low of $60.00 and a 1-year high of $105.62. The firm’s fifty day simple moving average is $87.02 and its 200-day simple moving average is $92.42. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.90 and a quick ratio of 1.20. The stock has a market capitalization of $146.58 billion, a P/E ratio of 34.59, a PEG ratio of 2.92 and a beta of 0.75.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. Nike had a net margin of 10.46% and a return on equity of 51.49%. The business had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.56 billion. During the same period last year, the business posted $0.68 EPS. Nike’s revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts anticipate that Nike Inc will post 2.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a yield of 1.05%. Nike’s payout ratio is presently 39.36%.
A number of brokerages have recently issued reports on NKE. Deutsche Bank restated a “neutral” rating and issued a $84.00 target price on shares of Nike in a research note on Wednesday, April 29th. Credit Suisse Group upped their target price on shares of Nike from $85.00 to $92.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Wedbush assumed coverage on shares of Nike in a report on Wednesday, March 25th. They issued an “outperform” rating and a $93.00 price objective for the company. Morgan Stanley reduced their target price on shares of Nike from $119.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, March 24th. Finally, BTIG Research started coverage on shares of Nike in a report on Tuesday, April 28th. They set a “buy” rating and a $108.00 target price for the company. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have assigned a buy rating to the company. Nike has an average rating of “Buy” and an average price target of $98.18.
In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were bought at an average cost of $84.22 per share, for a total transaction of $210,550.00. Following the transaction, the director now directly owns 11,851 shares of the company’s stock, valued at approximately $998,091.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Friday, April 3rd. The stock was bought at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the completion of the transaction, the director now directly owns 12,851 shares in the company, valued at $1,087,580.13. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.
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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