Kornitzer Capital Management Inc. KS Has $6.36 Million Holdings in Nike Inc (NKE)

Kornitzer Capital Management Inc. KS grew its holdings in shares of Nike Inc (NYSE:NKE) by 13.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 75,069 shares of the footwear maker’s stock after purchasing an additional 9,130 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Nike were worth $6,360,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. lifted its position in Nike by 1.2% during the 3rd quarter. BlackRock Inc. now owns 82,676,038 shares of the footwear maker’s stock worth $7,004,317,000 after buying an additional 966,541 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Nike by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after buying an additional 1,273,548 shares in the last quarter. Northern Trust Corp lifted its position in Nike by 0.3% during the 2nd quarter. Northern Trust Corp now owns 20,669,184 shares of the footwear maker’s stock worth $1,646,920,000 after buying an additional 64,030 shares in the last quarter. FMR LLC lifted its position in Nike by 5.2% during the 3rd quarter. FMR LLC now owns 16,479,696 shares of the footwear maker’s stock worth $1,396,160,000 after buying an additional 818,695 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Nike by 9.2% during the 3rd quarter. Jennison Associates LLC now owns 16,095,107 shares of the footwear maker’s stock worth $1,363,577,000 after buying an additional 1,354,484 shares in the last quarter. 64.09% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the transaction, the executive vice president now owns 104,737 shares in the company, valued at approximately $8,708,881.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the transaction, the director now owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,000 shares of company stock worth $4,219,350. 3.90% of the stock is owned by company insiders.

Several equities research analysts have commented on the stock. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Macquarie set a $98.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Piper Jaffray Companies set a $93.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Monday, September 17th. JPMorgan Chase & Co. boosted their price objective on shares of Nike from $76.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 15th. Finally, Wells Fargo & Co set a $82.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research note on Monday, August 6th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have assigned a buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus target price of $85.85.

Shares of NKE opened at $77.94 on Tuesday. Nike Inc has a 52 week low of $59.65 and a 52 week high of $86.04. The stock has a market capitalization of $119.30 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.35 and a beta of 0.76. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same quarter in the prior year, the business earned $0.57 EPS. Nike’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Nike Inc will post 2.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be paid a $0.22 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio is 36.36%.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.com-unik.info/2018/12/04/kornitzer-capital-management-inc-ks-has-6-36-million-holdings-in-nike-inc-nke.html.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Further Reading: What is the yield curve?

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit