Madison Investment Holdings Inc. purchased a new position in Nike Inc (NYSE:NKE) during the fourth quarter, Holdings Channel reports. The fund purchased 3,618 shares of the footwear maker’s stock, valued at approximately $226,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Field & Main Bank purchased a new position in Nike in the 4th quarter worth approximately $100,000. SeaCrest Wealth Management LLC purchased a new position in Nike in the 4th quarter worth approximately $128,000. First Dallas Securities Inc. purchased a new stake in shares of Nike during the 4th quarter worth approximately $128,000. Willingdon Wealth Management purchased a new stake in shares of Nike during the 3rd quarter worth approximately $114,000. Finally, Atlantic Trust LLC purchased a new stake in shares of Nike during the 2nd quarter worth approximately $136,000. 65.76% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on NKE. Goldman Sachs Group set a $59.00 price objective on Nike and gave the stock a “neutral” rating in a report on Thursday, December 14th. HSBC cut Nike from a “buy” rating to a “hold” rating and upped their price objective for the stock from $58.95 to $62.00 in a report on Tuesday, November 28th. Buckingham Research began coverage on Nike in a report on Sunday, December 31st. They set a “buy” rating and a $72.00 price objective on the stock. B. Riley upped their price objective on Nike from $53.00 to $61.00 and gave the stock a “neutral” rating in a report on Friday, December 22nd. Finally, Deutsche Bank set a $76.00 price objective on Nike and gave the stock a “buy” rating in a report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $66.10.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. Nike’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.50 EPS. equities research analysts expect that Nike Inc will post 2.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio (DPR) is presently 34.63%.
In other Nike news, EVP John F. Slusher sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the transaction, the executive vice president now owns 268,169 shares of the company’s stock, valued at approximately $16,918,782.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total value of $8,775,000.00. Following the completion of the transaction, the chairman now directly owns 1,502,830 shares in the company, valued at approximately $97,683,950. The disclosure for this sale can be found here. Insiders sold a total of 1,057,896 shares of company stock worth $68,424,217 in the last ninety days. 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.
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