Citizens Financial Group Inc RI trimmed its holdings in shares of Nike Inc (NYSE:NKE) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 174,394 shares of the footwear maker’s stock after selling 3,558 shares during the period. Nike accounts for approximately 1.2% of Citizens Financial Group Inc RI’s holdings, making the stock its 18th largest holding. Citizens Financial Group Inc RI’s holdings in Nike were worth $17,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also made changes to their positions in NKE. Marquette Asset Management LLC purchased a new stake in Nike in the 3rd quarter valued at $28,000. LFA Lugano Financial Advisors SA purchased a new stake in Nike in the 4th quarter valued at $33,000. Carmichael Hill & Associates Inc. purchased a new stake in Nike in the 4th quarter valued at $37,000. Savior LLC purchased a new stake in Nike in the 4th quarter valued at $40,000. Finally, KCS Wealth Advisory purchased a new stake in Nike in the 3rd quarter valued at $38,000. 65.36% of the stock is owned by institutional investors and hedge funds.
Shares of Nike stock opened at $102.00 on Wednesday. The business has a 50-day moving average of $101.52 and a 200 day moving average of $93.23. Nike Inc has a 12 month low of $77.07 and a 12 month high of $105.62. The stock has a market capitalization of $161.25 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 2.48 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.98 and a quick ratio of 1.23.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, February 28th. Nike’s dividend payout ratio (DPR) is 39.36%.
Several analysts have issued reports on NKE shares. Barclays started coverage on Nike in a report on Tuesday, November 12th. They issued an “overweight” rating and a $111.00 target price for the company. Oppenheimer started coverage on Nike in a report on Thursday, February 6th. They issued a “buy” rating and a $115.00 target price for the company. Guggenheim restated a “buy” rating and issued a $110.00 target price on shares of Nike in a report on Friday, December 13th. Goldman Sachs Group restated a “buy” rating and issued a $114.00 target price on shares of Nike in a report on Tuesday, January 21st. Finally, Needham & Company LLC upped their target price on Nike from $98.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. Nike has a consensus rating of “Buy” and a consensus price target of $107.54.
In related news, EVP Monique S. Matheson sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $892,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $93.55, for a total value of $15,435,750.00. Following the transaction, the chief executive officer now owns 2,046,040 shares of the company’s stock, valued at $191,407,042. The disclosure for this sale can be found here. Insiders have sold a total of 436,916 shares of company stock valued at $43,122,614 over the last 90 days. 3.80% of the stock is currently owned by company insiders.
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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