Empire Life Investments Inc. Sells 5,557 Shares of Nike, Inc. (NKE)

Empire Life Investments Inc. cut its stake in shares of Nike, Inc. (NYSE:NKE) by 7.5% during the first quarter, Holdings Channel reports. The institutional investor owned 68,735 shares of the footwear maker’s stock after selling 5,557 shares during the period. Empire Life Investments Inc.’s holdings in Nike were worth $3,884,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NKE. Mission Wealth Management LLC boosted its position in Nike by 128.2% in the fourth quarter. Mission Wealth Management LLC now owns 10,462 shares of the footwear maker’s stock valued at $532,000 after buying an additional 5,878 shares in the last quarter. First Command Bank purchased a new position in Nike during the fourth quarter valued at about $128,000. First Interstate Bank boosted its position in Nike by 1,599.8% in the fourth quarter. First Interstate Bank now owns 99,167 shares of the footwear maker’s stock valued at $5,041,000 after buying an additional 93,333 shares in the last quarter. Essex Financial Services Inc. boosted its position in Nike by 8.9% in the fourth quarter. Essex Financial Services Inc. now owns 16,856 shares of the footwear maker’s stock valued at $857,000 after buying an additional 1,383 shares in the last quarter. Finally, Artemis Investment Management LLP boosted its position in Nike by 7.2% in the fourth quarter. Artemis Investment Management LLP now owns 268,698 shares of the footwear maker’s stock valued at $13,659,000 after buying an additional 18,155 shares in the last quarter. Hedge funds and other institutional investors own 65.55% of the company’s stock.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Shares of Nike, Inc. (NYSE:NKE) opened at 52.02 on Tuesday. Nike, Inc. has a one year low of $49.01 and a one year high of $60.33. The company has a 50-day moving average of $53.24 and a 200 day moving average of $54.21. The firm has a market cap of $85.87 billion, a PE ratio of 21.70 and a beta of 0.47.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the consensus estimate of $0.53 by $0.15. The firm had revenue of $8.43 billion for the quarter, compared to analyst estimates of $8.47 billion. Nike had a return on equity of 32.97% and a net margin of 12.02%. Nike’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. On average, equities research analysts expect that Nike, Inc. will post $2.41 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend 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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Several equities analysts recently issued reports on NKE shares. Deutsche Bank AG boosted their target price on shares of Nike from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, March 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Nike in a research note on Saturday, March 11th. Morgan Stanley set a $56.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Monday, March 13th. Credit Suisse Group set a $67.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, March 14th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and issued a $51.00 target price on shares of Nike in a research note on Thursday, March 16th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $60.74.

In other Nike news, Chairman Mark G. Parker sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $55.50, for a total value of $5,550,000.00. Following the transaction, the chairman now directly owns 1,966,235 shares of the company’s stock, valued at approximately $109,126,042.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John R. Thompson, Jr. sold 14,000 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $56.45, for a total value of $790,300.00. Following the completion of the transaction, the director now directly owns 55,660 shares in the company, valued at $3,142,007. The disclosure for this sale can be found here. Insiders have sold a total of 379,000 shares of company stock worth $21,213,800 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Nike Company Profile

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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