Gamco Investors INC. ET AL Increases Stake in Nike Inc (NKE)

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Gamco Investors INC. ET AL grew its position in Nike Inc (NYSE:NKE) by 7.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,693 shares of the footwear maker’s stock after purchasing an additional 3,227 shares during the period. Gamco Investors INC. ET AL’s holdings in Nike were worth $3,848,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC acquired a new stake in Nike during the first quarter worth about $25,000. Next Capital Management LLC acquired a new stake in Nike during the fourth quarter worth about $26,000. Mackey Komara & Dankovich LLC acquired a new stake in Nike during the first quarter worth about $30,000. Clarfeld Financial Advisors LLC acquired a new stake in Nike during the fourth quarter worth about $34,000. Finally, Arcadia Investment Management Corp MI grew its holdings in Nike by 45.4% during the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after acquiring an additional 128 shares during the period. 66.17% of the stock is currently owned by institutional investors and hedge funds.

NKE has been the topic of several analyst reports. Rowe raised Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a report on Friday, February 8th. Oppenheimer raised their target price on Nike from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 8th. UBS Group reaffirmed a “neutral” rating and set a $86.00 target price on shares of Nike in a report on Friday, February 15th. Wedbush raised their target price on Nike from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Finally, Telsey Advisory Group raised their target price on Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.10.

In other news, EVP Monique S. Matheson sold 16,500 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 40,004 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total value of $3,513,151.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 166,504 shares of company stock worth $14,320,816. Company insiders own 3.90% of the company’s stock.

Shares of NKE opened at $82.64 on Friday. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00. The company has a market capitalization of $131.46 billion, a price-to-earnings ratio of 34.15, a price-to-earnings-growth ratio of 2.52 and a beta of 0.67.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. Nike’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.68 earnings per share. Research analysts anticipate that Nike Inc will post 2.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.06%. Nike’s dividend payout ratio (DPR) is presently 36.36%.

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Nike Profile

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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