Gabelli Funds LLC Has $3.89 Million Holdings in Nike Inc (NKE)

Gabelli Funds LLC lessened its position in shares of Nike Inc (NYSE:NKE) by 29.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,100 shares of the footwear maker’s stock after selling 31,000 shares during the period. Gabelli Funds LLC’s holdings in Nike were worth $3,894,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Asset Planning Services Ltd. boosted its holdings in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares in the last quarter. Atlantic Trust LLC acquired a new position in shares of Nike in the 2nd quarter valued at $136,000. Howe & Rusling Inc. boosted its holdings in shares of Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after buying an additional 2,329 shares in the last quarter. Kistler Tiffany Companies LLC boosted its holdings in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Nike by 7.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after buying an additional 201 shares in the last quarter. Institutional investors own 62.56% of the company’s stock.

In related news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at $1,441,376. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the transaction, the chairman now owns 1,502,830 shares in the company, valued at approximately $97,683,950. The disclosure for this sale can be found here. Insiders sold 290,094 shares of company stock worth $17,480,160 in the last 90 days. 3.90% of the stock is currently owned by insiders.

Nike Inc (NKE) opened at $63.29 on Friday. The firm has a market cap of $105,673.35, a PE ratio of 27.40, a PEG ratio of 3.04 and a beta of 0.64. Nike Inc has a 1-year low of $50.35 and a 1-year high of $65.18. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.24%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. research analysts anticipate that Nike Inc will post 2.28 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a $0.20 dividend. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.26%. Nike’s dividend payout ratio (DPR) is presently 34.63%.

Several brokerages have recently issued reports on NKE. Goldman Sachs Group set a $59.00 target price on shares of Nike and gave the company a “neutral” rating in a report on Thursday, December 14th. HSBC cut shares of Nike from a “buy” rating to a “hold” rating and upped their target price for the company from $58.95 to $62.00 in a report on Tuesday, November 28th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. B. Riley upped their target price on shares of Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a report on Friday. Finally, Citigroup restated a “buy” rating and issued a $65.00 target price (down previously from $67.00) on shares of Nike in a report on Wednesday, September 27th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-two have assigned a buy rating to the company. Nike presently has a consensus rating of “Hold” and a consensus target price of $63.57.

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Nike Company Profile

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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