Wafra Inc. Acquires 51,598 Shares of Nike Inc (NKE)

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Wafra Inc. lifted its holdings in Nike Inc (NYSE:NKE) by 30.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 220,710 shares of the footwear maker’s stock after buying an additional 51,598 shares during the period. Nike makes up about 0.6% of Wafra Inc.’s investment portfolio, making the stock its 27th largest position. Wafra Inc.’s holdings in Nike were worth $16,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of NKE. Next Capital Management LLC purchased a new stake in Nike in the 4th quarter worth approximately $26,000. Gemmer Asset Management LLC increased its holdings in Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Acima Private Wealth LLC purchased a new stake in Nike in the 4th quarter worth approximately $39,000. Proffitt & Goodson Inc. purchased a new stake in Nike in the 4th quarter worth approximately $44,000. Finally, Athena Capital Advisors LLC purchased a new stake in Nike in the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 64.77% of the company’s stock.

NKE has been the subject of several analyst reports. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $85.00 target price on shares of Nike in a report on Monday, December 3rd. Jefferies Financial Group reissued a “neutral” rating and issued a $80.00 target price on shares of Nike in a report on Tuesday, December 4th. Macquarie set a $98.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, December 4th. Finally, Morgan Stanley set a $103.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, December 11th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-six have issued a buy rating to the company’s stock. Nike presently has an average rating of “Buy” and a consensus target price of $86.76.

In related news, EVP Monique S. Matheson sold 16,500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the sale, the executive vice president now owns 284,805 shares of the company’s stock, valued at $21,089,810.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 816,500 shares of company stock valued at $63,317,465. 3.90% of the stock is owned by corporate insiders.

Shares of NKE stock traded up $0.42 on Thursday, reaching $87.11. The company’s stock had a trading volume of 67,802 shares, compared to its average volume of 5,878,484. Nike Inc has a 1 year low of $63.21 and a 1 year high of $88.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. The firm has a market cap of $136.43 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68.

Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.06. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. Nike’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. On average, equities analysts predict that Nike Inc will post 2.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. Nike’s dividend payout ratio is presently 36.36%.

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About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Read More: Retained Earnings

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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