Eqis Capital Management Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,647 shares of the footwear maker’s stock after selling 461 shares during the period. Eqis Capital Management Inc.’s holdings in NIKE were worth $709,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Sound Income Strategies LLC increased its stake in NIKE by 163.8% in the 3rd quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 154 shares in the last quarter. Newfound Research LLC purchased a new position in NIKE during the third quarter worth $32,000. Planned Solutions Inc. purchased a new position in NIKE during the third quarter worth $32,000. Demars Financial Group LLC purchased a new position in NIKE during the second quarter worth $42,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in NIKE during the third quarter worth $50,000. 64.20% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the company. BTIG Research raised their price objective on NIKE from $140.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $148.00 target price (up previously from $140.00) on shares of NIKE in a report on Wednesday. Wells Fargo & Company lifted their target price on NIKE from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, September 23rd. Deutsche Bank Aktiengesellschaft upgraded NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $107.00 to $151.00 in a report on Wednesday, September 23rd. Finally, Royal Bank of Canada started coverage on NIKE in a report on Wednesday, November 11th. They issued an “outperform” rating and a $145.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.50.
Shares of NKE stock opened at $132.98 on Friday. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. The business has a 50 day moving average of $127.87 and a two-hundred day moving average of $108.75. NIKE, Inc. has a 52 week low of $60.00 and a 52 week high of $136.35. The company has a market cap of $208.76 billion, a P/E ratio of 79.63, a PEG ratio of 2.70 and a beta of 0.82.
NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.49. The company had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $9.15 billion. NIKE had a return on equity of 34.62% and a net margin of 7.20%. NIKE’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. Analysts expect that NIKE, Inc. will post 2.83 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 29th. Stockholders of record on Monday, December 7th will be given a dividend of $0.275 per share. This is an increase from NIKE’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 0.83%. NIKE’s payout ratio is currently 52.97%.
In other news, CAO Hilary K. Krane sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $129.53, for a total transaction of $1,424,830.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew Campion sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $125.58, for a total value of $10,046,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 767,776 shares of company stock valued at $95,983,137. 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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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