BB&T Securities LLC cut its holdings in Nike Inc (NYSE:NKE) by 8.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 70,410 shares of the footwear maker’s stock after selling 6,863 shares during the period. BB&T Securities LLC’s holdings in Nike were worth $3,650,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Fiduciary Trust Co. grew its holdings in shares of Nike by 4.9% during the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after purchasing an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. grew its holdings in shares of Nike by 651.4% during the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after purchasing an additional 23,450 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of Nike by 4.3% during the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after purchasing an additional 4,030 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in shares of Nike by 20.0% during the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after purchasing an additional 17,285 shares during the last quarter. Finally, Airain ltd purchased a new position in shares of Nike during the second quarter worth about $3,189,000. 62.67% of the stock is currently owned by institutional investors.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of Nike 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 completion of the sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock worth $60,257,267 in the last ninety days. 3.90% of the stock is owned by corporate insiders.
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, beating the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities research analysts forecast that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is currently 34.63%.
Several equities analysts have issued reports on the company. B. Riley reaffirmed a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 price objective on shares of Nike in a report on Friday, December 22nd. Macquarie set a $72.00 price objective on Nike and gave the stock a “buy” rating in a report on Thursday. Cowen set a $64.00 price objective on Nike and gave the stock a “hold” rating in a report on Thursday. Finally, Raymond James Financial dropped their price objective on Nike from $71.00 to $67.00 and set an “outperform” rating on the stock in a report on Tuesday, September 19th. Three investment 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 company’s stock. The company presently has an average rating of “Hold” and an average target price of $64.40.
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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