West Chester Capital Advisors Inc. bought a new position in Nike Inc (NYSE:NKE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 12,151 shares of the footwear maker’s stock, valued at approximately $734,000. Nike comprises about 0.7% of West Chester Capital Advisors Inc.’s holdings, making the stock its 27th largest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Amalgamated Bank raised its holdings in Nike by 2.0% in the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock valued at $8,261,000 after buying an additional 3,189 shares during the period. Stifel Financial Corp raised its holdings in Nike by 3.9% in the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock valued at $68,428,000 after buying an additional 49,251 shares during the period. Sun Life Financial INC raised its holdings in Nike by 23,747.5% in the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock valued at $563,000 after buying an additional 9,499 shares during the period. Sather Financial Group Inc purchased a new position in Nike in the second quarter valued at approximately $9,275,000. Finally, Capital Bank & Trust Co raised its holdings in Nike by 63.7% in the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock valued at $33,897,000 after buying an additional 254,372 shares during the period. 65.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,057,896 shares of company stock valued at $68,424,217. Corporate insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. sell-side analysts expect that Nike Inc will post 2.26 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio (DPR) is 34.63%.
NKE has been the topic of several research reports. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $58.81 price target on the stock. in a report on Friday, November 17th. Robert W. Baird reiterated a “buy” rating and set a $65.00 price objective on shares of Nike in a research note on Friday, November 17th. HSBC lowered shares of Nike from a “buy” rating to a “hold” rating and lifted their price objective for the company from $58.95 to $62.00 in a research note on Tuesday, November 28th. OTR Global upgraded shares of Nike to a “positive” rating in a research note on Monday, December 11th. Finally, Susquehanna Bancshares reiterated a “hold” rating and set a $57.00 price objective on shares of Nike in a research note on Wednesday, December 13th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $65.61.
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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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