BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Nike Inc (NYSE:NKE) by 9.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,250,362 shares of the footwear maker’s stock after selling 125,495 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Nike were worth $64,831,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Trust Co. increased its position in shares of Nike by 4.9% during the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after purchasing an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. increased its position in shares of Nike by 651.4% during the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after purchasing an additional 23,450 shares during the period. Great Lakes Advisors LLC increased its position in shares of Nike by 4.3% during the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after purchasing an additional 4,030 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI increased its position in shares of Nike by 20.0% during the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the period. Finally, Airain ltd bought a new stake in shares of Nike during the second quarter valued at approximately $3,189,000. 62.75% of the stock is currently owned by institutional investors.
Nike Inc (NKE) opened at $64.11 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The company has a market capitalization of $104,600.00, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. Nike Inc has a one year low of $50.35 and a one year high of $65.36.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is 34.63%.
In other news, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the insider now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock worth $60,257,267 in the last ninety days. 3.90% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on the company. Citigroup restated a “buy” rating and set a $74.00 price objective on shares of Nike in a research report on Tuesday, December 19th. Canaccord Genuity boosted their price target on Nike from $50.00 to $64.00 and gave the company a “hold” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised Nike from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, December 19th. Telsey Advisory Group boosted their price target on Nike from $61.00 to $68.00 and gave the company an “outperform” rating in a research note on Monday, December 18th. Finally, Buckingham Research boosted their price target on Nike from $64.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Nike presently has an average rating of “Hold” and an average target price of $64.40.
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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.
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