Highwater Wealth Management LLC bought a new stake in shares of Nike Inc (NYSE:NKE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,365 shares of the footwear maker’s stock, valued at approximately $116,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Nike by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after purchasing an additional 1,207,986 shares in the last quarter. Vanguard Group Inc boosted its stake in Nike by 1.2% during the third quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after acquiring an additional 1,207,986 shares in the last quarter. BlackRock Inc. boosted its stake in Nike by 1.2% during the third quarter. BlackRock Inc. now owns 82,676,038 shares of the footwear maker’s stock worth $7,004,317,000 after acquiring an additional 966,541 shares in the last quarter. Capital Research Global Investors boosted its stake in Nike by 0.7% during the third quarter. Capital Research Global Investors now owns 54,349,821 shares of the footwear maker’s stock worth $4,604,517,000 after acquiring an additional 354,981 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Nike by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after acquiring an additional 1,273,548 shares in the last quarter. 63.99% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on NKE. Robert W. Baird lowered shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 price objective on the stock. in a research note on Wednesday. They noted that the move was a valuation call. HSBC raised shares of Nike from a “hold” rating to a “buy” rating and lifted their target price for the stock from $92.00 to $95.00 in a report on Tuesday. JPMorgan Chase & Co. set a $85.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, January 2nd. UBS Group set a $78.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Wednesday, January 2nd. Finally, Barclays set a $100.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. Nike currently has an average rating of “Buy” and a consensus price target of $83.08.
Shares of NKE traded up $0.27 during mid-day trading on Wednesday, reaching $77.00. The stock had a trading volume of 4,738,470 shares, compared to its average volume of 7,730,604. The firm has a market cap of $118.55 billion, a P/E ratio of 31.82, a PEG ratio of 2.31 and a beta of 0.69. Nike Inc has a 12 month low of $62.09 and a 12 month high of $86.04. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.06. Nike had a net margin of 5.66% and a return on equity of 44.85%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. Nike’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts anticipate that Nike Inc will post 2.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd were given a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.14%. Nike’s dividend payout ratio is currently 36.36%.
In related news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the sale, the executive vice president now owns 284,805 shares of the company’s stock, valued at $21,089,810.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $73.68, for a total transaction of $11,052,000.00. Following the sale, the chairman now directly owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
Nike Company 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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