Dimensional Fund Advisors LP raised its stake in shares of Nike Inc (NYSE:NKE) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,239,456 shares of the footwear maker’s stock after purchasing an additional 93,581 shares during the period. Dimensional Fund Advisors LP’s holdings in Nike were worth $167,979,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Willingdon Wealth Management bought a new position in Nike during the 3rd quarter worth $114,000. Asset Planning Services Ltd. raised its position in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Atlantic Trust LLC bought a new position in Nike during the 2nd quarter worth $136,000. Howe & Rusling Inc. raised its position in Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its position in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on NKE. B. Riley reaffirmed a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price on shares of Nike in a research report on Friday, December 22nd. Macquarie set a $72.00 price target on Nike and gave the stock a “buy” rating in a report on Thursday. Cowen set a $64.00 price target on Nike and gave the stock a “hold” rating in a report on Thursday. Finally, Raymond James Financial decreased their price target on Nike from $71.00 to $67.00 and set an “outperform” rating for the company 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. The company presently has a consensus rating of “Hold” and an average price target of $64.40.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.50 EPS. analysts anticipate that Nike Inc will post 2.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is 34.63%.
In other Nike news, COO Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 125,722 shares of Nike stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $63.17, for a total value of $7,941,858.74. Following the transaction, the executive vice president now owns 268,169 shares of the company’s stock, valued at approximately $16,940,235.73. The disclosure for this sale can be found here. Insiders have sold a total of 967,896 shares of company stock valued at $60,257,267 in the last quarter. Company 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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