SlateStone Wealth LLC Takes Position in Nike Inc (NKE)

SlateStone Wealth LLC bought a new stake in shares of Nike Inc (NYSE:NKE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 15,252 shares of the footwear maker’s stock, valued at approximately $1,131,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Vanguard Group Inc. increased its holdings in Nike by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after acquiring an additional 1,207,986 shares during the last quarter. Vanguard Group Inc increased its holdings in Nike by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after acquiring an additional 1,207,986 shares during the last quarter. BlackRock Inc. increased its holdings in Nike by 4.3% in the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after acquiring an additional 3,592,186 shares during the last quarter. Capital Research Global Investors increased its holdings in Nike by 0.7% in the 3rd quarter. Capital Research Global Investors now owns 54,349,821 shares of the footwear maker’s stock valued at $4,604,517,000 after acquiring an additional 354,981 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Nike by 6,517.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after acquiring an additional 34,749,961 shares during the last quarter. Institutional investors own 64.77% of the company’s stock.

NKE has been the topic of a number of research reports. Morgan Stanley set a $103.00 price target on shares of Nike and gave the company a “buy” rating in a report on Tuesday, December 11th. Bank of America set a $55.00 price target on shares of Nike and gave the company a “sell” rating in a report on Sunday, December 30th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $85.00 price target on shares of Nike in a report on Thursday, December 27th. Robert W. Baird downgraded shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 price target on the stock. in a report on Wednesday, January 9th. They noted that the move was a valuation call. Finally, Goldman Sachs Group set a $84.00 price target on shares of Nike and gave the company a “hold” rating in a report on Sunday, December 30th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-six have issued a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average price target of $86.76.

Shares of Nike stock opened at $87.69 on Wednesday. Nike Inc has a 52-week low of $63.21 and a 52-week high of $88.59. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $138.21 billion, a P/E ratio of 36.24, a PEG ratio of 2.71 and a beta of 0.68.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.06. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 EPS. On average, equities research analysts anticipate that Nike Inc will post 2.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be issued a $0.22 dividend. The ex-dividend date is Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.00%. Nike’s payout ratio is 36.36%.

In other news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the completion of the sale, the chairman now owns 1,687,863 shares in the company, valued at $124,361,745.84. The disclosure for this sale can be found here. Insiders sold a total of 800,000 shares of company stock worth $61,862,000 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

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About Nike

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.

Read More: Fundamental Analysis – How It Helps Investors

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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