LFA Lugano Financial Advisors SA trimmed its position in shares of Nike Inc (NYSE:NKE) by 76.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 325 shares of the footwear maker’s stock after selling 1,074 shares during the period. LFA Lugano Financial Advisors SA’s holdings in Nike were worth $27,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Next Capital Management LLC acquired a new position in Nike during the 4th quarter worth $26,000. Arcadia Investment Management Corp MI lifted its position in shares of Nike by 45.4% in the 1st quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after buying an additional 128 shares during the last quarter. Gemmer Asset Management LLC lifted its position in shares of 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 buying an additional 150 shares during the last quarter. Clarfeld Financial Advisors LLC bought a new position in shares of Nike in the 4th quarter worth about $34,000. Finally, CenterStar Asset Management LLC lifted its position in Nike by 268.2% in the 1st quarter. CenterStar Asset Management LLC now owns 486 shares of the footwear maker’s stock valued at $41,000 after purchasing an additional 775 shares during the last quarter. 65.94% of the stock is owned by institutional investors and hedge funds.
NKE stock opened at $84.57 on Monday. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. The company has a market cap of $132.92 billion, a P/E ratio of 34.95, a P/E/G ratio of 2.54 and a beta of 0.67. Nike Inc has a 52 week low of $66.53 and a 52 week high of $90.00.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, May 31st. Nike’s dividend payout ratio is currently 36.36%.
Several analysts recently weighed in on NKE shares. Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $90.00 in a research report on Tuesday, January 22nd. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 price target on the stock in a research report on Friday, February 8th. Oppenheimer boosted their price target on shares of Nike from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 8th. UBS Group restated a “neutral” rating and set a $86.00 price target on shares of Nike in a research report on Friday, February 15th. Finally, Wedbush boosted their price target on shares of Nike from $90.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $87.10.
In other Nike news, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total value of $1,455,465.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,504 shares of company stock valued at $14,320,816. 3.90% of the stock is currently owned by corporate insiders.
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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.
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