JNBA Financial Advisors reduced its position in Nike Inc (NYSE:NKE) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,787 shares of the footwear maker’s stock after selling 459 shares during the period. JNBA Financial Advisors’ holdings in Nike were worth $235,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Vanguard Group Inc increased its holdings in shares of 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 shares of 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. Oregon Public Employees Retirement Fund increased its holdings in shares of 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. Northern Trust Corp increased its holdings in shares of Nike by 2.4% in the 4th quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after acquiring an additional 491,974 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Nike by 10.2% in the 4th quarter. FMR LLC now owns 18,168,787 shares of the footwear maker’s stock valued at $1,347,034,000 after acquiring an additional 1,689,091 shares during the last quarter. 65.94% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on NKE shares. Cowen upgraded Nike from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $80.00 to $90.00 in a report on Tuesday, January 22nd. Rowe upgraded Nike from a “sell” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Friday, February 8th. Oppenheimer boosted their price target on Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 8th. UBS Group restated a “neutral” rating and set a $86.00 price objective on shares of Nike in a research report on Friday, February 15th. Finally, Wedbush boosted their price objective on Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $87.10.
Shares of Nike stock opened at $83.67 on Thursday. The firm has a market cap of $129.72 billion, a PE ratio of 34.57, a P/E/G ratio of 2.48 and a beta of 0.67. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00.
Nike (NYSE:NKE) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. Nike’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. Equities research analysts predict that Nike Inc will post 2.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, May 31st. Nike’s payout ratio is 36.36%.
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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