Sumitomo Mitsui DS Asset Management Company Ltd cut its position in shares of Nike Inc (NYSE:NKE) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,596 shares of the footwear maker’s stock after selling 1,864 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nike were worth $13,737,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Garrett Wealth Advisory Group LLC bought a new position in shares of Nike in the 3rd quarter valued at approximately $26,000. Marquette Asset Management LLC acquired a new stake in shares of Nike during the 3rd quarter worth approximately $28,000. Candriam Luxembourg S.C.A. grew its holdings in shares of Nike by 97.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 145,904 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Nike during the 4th quarter worth approximately $33,000. Finally, KCS Wealth Advisory acquired a new stake in shares of Nike during the 3rd quarter worth approximately $38,000. 65.08% of the stock is owned by institutional investors.
In related news, Director Peter B. Henry sold 2,416 shares of Nike stock in a transaction on Monday, January 6th. The stock was sold at an average price of $101.14, for a total transaction of $244,354.24. Following the completion of the sale, the director now directly owns 4,046 shares of the company’s stock, valued at $409,212.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 8,500 shares of Nike stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $105.00, for a total value of $892,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 486,416 shares of company stock valued at $47,551,974. 3.80% of the stock is owned by insiders.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Nike had a return on equity of 50.03% and a net margin of 11.21%. The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.09 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Nike Inc will post 3.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.245 per share. The ex-dividend date was Friday, November 29th. This is a boost from Nike’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.96%. Nike’s payout ratio is 39.36%.
Several brokerages recently commented on NKE. Robert W. Baird boosted their price target on Nike from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Friday, December 20th. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Nike in a research report on Wednesday, December 11th. ValuEngine downgraded Nike from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Argus lifted their price objective on Nike from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday, December 24th. They noted that the move was a valuation call. Finally, Exane BNP Paribas initiated coverage on Nike in a research report on Friday, October 4th. They issued an “underperform” rating and a $82.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $106.25.
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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