Bridgecreek Investment Management LLC Lowers Position in Nike, Inc. (NKE)

Bridgecreek Investment Management LLC lowered its position in Nike, Inc. (NYSE:NKE) by 2.5% during the first quarter, Holdings Channel reports. The firm owned 115,730 shares of the footwear maker’s stock after selling 3,000 shares during the period. Nike accounts for about 1.7% of Bridgecreek Investment Management LLC’s portfolio, making the stock its 20th largest position. Bridgecreek Investment Management LLC’s holdings in Nike were worth $6,450,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in NKE. Baltimore Washington Financial Advisors Inc. acquired a new position in shares of Nike during the fourth quarter worth $10,508,000. Clarius Group LLC acquired a new position in shares of Nike during the fourth quarter worth $111,000. Webster Bank N. A. increased its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the period. Crestwood Advisors Group LLC acquired a new position in shares of Nike during the first quarter worth $117,000. Finally, Gierl Augustine Investment Management Inc increased its position in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the period. 65.55% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Nike, Inc. (NYSE NKE) opened at 52.02 on Tuesday. The company’s 50-day moving average price is $53.24 and its 200 day moving average price is $54.21. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.33. The company has a market capitalization of $85.87 billion, a price-to-earnings ratio of 21.70 and a beta of 0.47.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. The business had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $8.47 billion. Nike had a net margin of 12.02% and a return on equity of 32.97%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 earnings per share. Analysts forecast that Nike, Inc. will post $2.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Thursday, June 1st. Nike’s dividend payout ratio (DPR) is presently 30.00%.

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A number of equities analysts have weighed in on the company. B. Riley reissued a “neutral” rating and set a $56.00 price target on shares of Nike in a research report on Monday, March 27th. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Barclays PLC reissued an “overweight” rating and set a $65.00 price target on shares of Nike in a research report on Monday. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $55.06 price target on the stock in a research report on Thursday, June 15th. Finally, Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $60.74.

In other Nike news, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction on Friday, March 24th. The shares were acquired at an average price of $56.30 per share, for a total transaction of $56,300.00. Following the completion of the acquisition, the director now owns 28,660 shares in the company, valued at $1,613,558. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $57.00, for a total transaction of $2,850,000.00. Following the completion of the sale, the insider now owns 300,108 shares in the company, valued at approximately $17,106,156. The disclosure for this sale can be found here. In the last 90 days, insiders sold 379,000 shares of company stock worth $21,213,800. Corporate insiders own 3.90% of the company’s stock.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NKE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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