Global Trust Asset Management LLC lifted its position in Nike Inc (NYSE:NKE) by 68.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,960 shares of the footwear maker’s stock after purchasing an additional 1,200 shares during the quarter. Global Trust Asset Management LLC’s holdings in Nike were worth $219,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. BDO Wealth Advisors LLC grew its position in Nike by 1,044.3% in the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after acquiring an additional 1,274 shares during the period. Resources Management Corp CT ADV bought a new stake in Nike in the third quarter valued at $113,000. Stelac Advisory Services LLC bought a new stake in Nike in the third quarter valued at $115,000. Highwater Wealth Management LLC bought a new stake in Nike in the fourth quarter valued at $116,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in Nike in the third quarter valued at $119,000. Institutional investors and hedge funds own 63.99% of the company’s stock.
In other Nike news, EVP John F. Slusher sold 200,000 shares of the stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now owns 284,805 shares of the company’s stock, valued at $21,089,810.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the transaction, the chairman now directly owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. As a group, equities analysts predict that Nike Inc will post 2.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd were issued a $0.22 dividend. This is a boost from Nike’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.88 annualized dividend and a yield of 1.16%. Nike’s dividend payout ratio (DPR) is currently 36.36%.
A number of brokerages have weighed in on NKE. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Piper Jaffray Companies set a $93.00 target price on Nike and gave the stock a “buy” rating in a report on Monday, September 17th. HSBC cut Nike from a “neutral” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. set a $85.00 target price on Nike and gave the stock a “buy” rating in a report on Wednesday, January 2nd. Finally, Bank of America set a $55.00 target price on Nike and gave the stock a “sell” rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $83.14.
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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.
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