Landsberg Bennett & Dubbaneh LLC raised its position in shares of Nike Inc (NYSE:NKE) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,574 shares of the footwear maker’s stock after buying an additional 158 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Nike were worth $422,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NKE. Thor Advisors LLC acquired a new position in shares of Nike during the first quarter valued at about $26,000. Hexavest Inc. acquired a new position in shares of Nike during the second quarter valued at about $30,000. Litman Gregory Asset Management LLC acquired a new position in shares of Nike during the second quarter valued at about $31,000. LFA Lugano Financial Advisors SA increased its holdings in shares of Nike by 43.1% during the second quarter. LFA Lugano Financial Advisors SA now owns 465 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 140 shares in the last quarter. Finally, Lipe & Dalton acquired a new position in shares of Nike during the second quarter valued at about $50,000. 65.04% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE NKE opened at $93.88 on Friday. The stock has a market capitalization of $144.97 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 2.46 and a beta of 0.85. Nike Inc has a 12 month low of $66.53 and a 12 month high of $94.75. The firm’s 50 day simple moving average is $88.07 and its 200-day simple moving average is $85.38. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.94%. Nike’s payout ratio is 35.34%.
Several equities analysts have recently issued reports on NKE shares. Wedbush restated an “outperform” rating and set a $100.00 price objective (up previously from $96.00) on shares of Nike in a report on Wednesday, September 25th. Canaccord Genuity restated a “buy” rating and set a $96.00 price objective on shares of Nike in a report on Wednesday, June 19th. Citigroup upped their price objective on shares of Nike from $100.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Susquehanna Bancshares set a $106.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley upped their price objective on shares of Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $95.92.
In other news, insider Elliott Hill sold 2,770 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total transaction of $240,879.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $93.42, for a total value of $15,414,300.00. Following the transaction, the chief executive officer now owns 2,054,511 shares in the company, valued at approximately $191,932,417.62. The disclosure for this sale can be found here. Insiders have sold a total of 505,579 shares of company stock worth $45,961,980 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.
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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