Harding Loevner LP Grows Position in Nike Inc (NKE)

Harding Loevner LP boosted its stake in shares of Nike Inc (NYSE:NKE) by 97.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,151,210 shares of the footwear maker’s stock after buying an additional 5,987,728 shares during the period. Nike makes up approximately 2.7% of Harding Loevner LP’s holdings, making the stock its 9th largest holding. Harding Loevner LP’s holdings in Nike were worth $390,421,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NKE. Willingdon Wealth Management purchased a new stake in Nike during the 3rd quarter valued at $114,000. Asset Planning Services Ltd. increased its stake in Nike by 0.3% in the second 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 period. Atlantic Trust LLC purchased a new stake in Nike in the second quarter worth $136,000. Howe & Rusling Inc. increased its stake in Nike by 751.3% in the third 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 period. Finally, Kistler Tiffany Companies LLC increased its stake in Nike by 91.7% in the second 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 period. Institutional investors own 62.67% of the company’s stock.

In related news, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following 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. In the last ninety days, insiders have sold 967,896 shares of company stock worth $60,257,267. 3.90% of the stock is owned by corporate insiders.

A number of analysts have weighed in on the company. Goldman Sachs Group set a $59.00 target price on Nike and gave the stock a “neutral” rating in a research note on Thursday, December 14th. HSBC lowered Nike from a “buy” rating to a “hold” rating and increased their target price for the stock from $58.95 to $62.00 in a research note on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a research note on Sunday, December 31st. They issued a “buy” rating and a $72.00 target price on the stock. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, B. Riley increased their target price on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Friday, December 22nd. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.40.

Shares of Nike Inc (NYSE NKE) opened at $64.67 on Friday. Nike Inc has a 12-month low of $50.35 and a 12-month high of $65.18. The firm has a market capitalization of $105,510.00, a PE ratio of 28.00, a P/E/G ratio of 2.92 and a beta of 0.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $8.39 billion. During the same quarter last year, the company earned $0.50 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. equities analysts expect that Nike Inc will post 2.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is presently 34.63%.

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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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