Schwab Charles Investment Management Inc. grew its stake in shares of Nike Inc (NYSE:NKE) by 7.2% in the third quarter, Holdings Channel reports. The fund owned 4,749,651 shares of the footwear maker’s stock after buying an additional 318,498 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Nike were worth $246,270,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Bank of Australia increased its stake in shares of Nike by 10.2% during the 3rd quarter. Commonwealth Bank of Australia now owns 105,588 shares of the footwear maker’s stock valued at $5,467,000 after acquiring an additional 9,735 shares during the last quarter. Investec Asset Management LTD increased its stake in shares of Nike by 41.6% during the 3rd quarter. Investec Asset Management LTD now owns 203,402 shares of the footwear maker’s stock valued at $10,546,000 after acquiring an additional 59,792 shares during the last quarter. Zeke Capital Advisors LLC increased its stake in shares of Nike by 81.8% during the 3rd quarter. Zeke Capital Advisors LLC now owns 15,108 shares of the footwear maker’s stock valued at $783,000 after acquiring an additional 6,797 shares during the last quarter. Amalgamated Bank increased its position in Nike by 2.0% during the 3rd quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after purchasing an additional 3,189 shares in the last quarter. Finally, Johnson Financial Group Inc. increased its position in Nike by 37.5% during the 3rd quarter. Johnson Financial Group Inc. now owns 5,135 shares of the footwear maker’s stock worth $266,000 after purchasing an additional 1,401 shares in the last quarter. 62.67% of the stock is owned by institutional investors.
A number of analysts recently issued reports on NKE shares. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price for the company in a research report on Wednesday, October 4th. Susquehanna Bancshares reissued a “hold” rating and set a $57.00 target price on shares of Nike in a research report on Wednesday, December 13th. DA Davidson increased their target price on shares of Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, December 26th. Barclays set a $75.00 target price on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday. Finally, Buckingham Research started coverage on shares of Nike in a research report on Saturday, January 6th. They set a “buy” rating and a $72.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $64.40.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. equities analysts anticipate that Nike Inc will post 2.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. Nike’s dividend payout ratio (DPR) is 34.63%.
In other news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 100,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total value of $6,309,000.00. Following the transaction, the executive vice president now directly owns 268,169 shares in the company, valued at $16,918,782.21. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock worth $60,257,267 over the last three months. Corporate insiders own 3.90% of the company’s stock.
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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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