Nike Inc (NKE) Stake Lessened by Stokes Capital Advisors LLC

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Stokes Capital Advisors LLC lessened its stake in shares of Nike Inc (NYSE:NKE) by 16.8% during the first quarter, Holdings Channel reports. The fund owned 41,240 shares of the footwear maker’s stock after selling 8,326 shares during the quarter. Nike accounts for about 2.1% of Stokes Capital Advisors LLC’s portfolio, making the stock its 9th biggest position. Stokes Capital Advisors LLC’s holdings in Nike were worth $3,473,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Next Capital Management LLC bought a new stake in shares of Nike during the fourth quarter valued at approximately $26,000. Mackey Komara & Dankovich LLC bought a new stake in shares of Nike during the first quarter valued at approximately $30,000. Arcadia Investment Management Corp MI raised its position in shares of Nike by 45.4% during the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock valued at $35,000 after buying an additional 128 shares during the last quarter. Clarfeld Financial Advisors LLC bought a new stake in shares of Nike during the fourth quarter valued at approximately $34,000. Finally, CenterStar Asset Management LLC raised its position in shares of Nike by 268.2% during the first quarter. CenterStar Asset Management LLC now owns 486 shares of the footwear maker’s stock valued at $41,000 after buying an additional 775 shares during the last quarter. 65.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.02, for a total value of $9,352,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 40,004 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $87.82, for a total transaction of $3,513,151.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 166,504 shares of company stock valued at $14,320,816. 3.90% of the stock is owned by insiders.

Several research firms have recently issued reports on NKE. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating in a research report on Thursday. UBS Group reduced their price objective on shares of Nike from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. reiterated a “buy” rating and set a $90.00 price objective on shares of Nike in a research report on Friday, April 12th. Credit Suisse Group reiterated a “buy” rating and set a $97.00 price objective on shares of Nike in a research report on Friday, March 22nd. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Monday, March 18th. Three 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. Nike currently has a consensus rating of “Buy” and an average price target of $87.10.

Shares of NKE opened at $82.16 on Monday. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00. The firm has a market cap of $129.13 billion, a PE ratio of 33.95, a P/E/G ratio of 2.47 and a beta of 0.67. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date is Friday, May 31st. 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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