Ladenburg Thalmann Financial Services Inc. cut its position in Nike Inc (NYSE:NKE) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,876 shares of the footwear maker’s stock after selling 39,187 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Nike were worth $10,278,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. HCR Wealth Advisors acquired a new stake in Nike during the fourth quarter worth $655,000. Ellington Management Group LLC raised its stake in Nike by 50.4% in the fourth quarter. Ellington Management Group LLC now owns 20,300 shares of the footwear maker’s stock worth $1,032,000 after buying an additional 6,800 shares during the last quarter. Ancora Advisors LLC raised its stake in Nike by 591.0% in the fourth quarter. Ancora Advisors LLC now owns 72,482 shares of the footwear maker’s stock worth $3,684,000 after buying an additional 61,993 shares during the last quarter. Friess Associates LLC acquired a new stake in Nike during the fourth quarter worth $8,641,000. Finally, SRS Capital Advisors Inc. acquired a new stake in Nike during the fourth quarter worth $120,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) traded down 0.98% during trading on Friday, hitting $55.85. 6,055,617 shares of the stock were exchanged. The firm has a 50 day moving average of $56.25 and a 200-day moving average of $53.47. The company has a market cap of $92.20 billion, a price-to-earnings ratio of 23.30 and a beta of 0.44. Nike Inc has a 12-month low of $49.01 and a 12-month high of $60.33.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. The company had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nike had a return on equity of 31.70% and a net margin of 11.60%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 EPS. On average, analysts forecast that Nike Inc will post $2.40 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 6th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Thursday, March 2nd. Nike’s dividend payout ratio is currently 31.72%.
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A number of analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target (down from $68.00) on shares of Nike in a report on Tuesday, March 21st. Citigroup Inc reissued a “buy” rating and set a $60.00 price target on shares of Nike in a report on Wednesday, March 22nd. Barclays PLC reissued an “overweight” rating and set a $65.00 price target on shares of Nike in a report on Wednesday, March 22nd. Goldman Sachs Group Inc increased their price target on shares of Nike from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Wednesday, March 22nd. Finally, Canaccord Genuity reissued a “hold” rating and set a $51.00 price target on shares of Nike in a report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Nike presently has an average rating of “Buy” and an average price target of $60.66.
In other Nike news, EVP David J. Ayre sold 200,000 shares of Nike stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $53.08, for a total value of $10,616,000.00. Following the transaction, the executive vice president now directly owns 357,713 shares of the company’s stock, valued at approximately $18,987,406.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 100,000 shares of Nike stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $52.94, for a total value of $5,294,000.00. Following the completion of the transaction, the chairman now directly owns 1,966,235 shares in the company, valued at $104,092,480.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 665,000 shares of company stock worth $36,333,500. Company insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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