Hotaling Investment Management LLC bought a new stake in shares of Nike Inc (NYSE:NKE) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 21,096 shares of the footwear maker’s stock, valued at approximately $1,564,000. Nike makes up 1.3% of Hotaling Investment Management LLC’s portfolio, making the stock its 25th largest position.
Several other institutional investors have also modified their holdings of NKE. Resources Management Corp CT ADV bought a new stake in Nike in the third quarter valued at approximately $113,000. G&S Capital LLC increased its stake in Nike by 14.4% in the fourth quarter. G&S Capital LLC now owns 1,522 shares of the footwear maker’s stock valued at $113,000 after purchasing an additional 191 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in Nike in the third quarter valued at approximately $115,000. Highwater Wealth Management LLC bought a new stake in Nike in the fourth quarter valued at approximately $116,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in Nike in the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 64.78% of the company’s stock.
In other news, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the sale, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the completion of the sale, the chairman now owns 1,539,963 shares in the company, valued at $126,276,966. The disclosure for this sale can be found here. Over the last three months, insiders sold 800,000 shares of company stock worth $61,862,000. Insiders own 3.90% of the company’s stock.
NYSE:NKE traded down $0.03 during mid-day trading on Friday, reaching $82.36. 3,786,506 shares of the company’s stock were exchanged, compared to its average volume of 5,910,714. Nike Inc has a one year low of $62.84 and a one year high of $86.04. The firm has a market cap of $129.62 billion, a price-to-earnings ratio of 34.03, a P/E/G ratio of 2.54 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, beating the 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 for the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Sell-side analysts anticipate that Nike Inc will post 2.63 EPS for the current year.
Several equities research analysts have commented on the stock. Oppenheimer upped their target price on shares of Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 price target for the company in a report on Friday. Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and upped their price target for the company from $80.00 to $90.00 in a report on Tuesday, January 22nd. Zacks Investment Research cut shares of Nike from a “hold” rating to a “sell” rating in a report on Monday, December 3rd. Finally, Jefferies Financial Group restated a “neutral” rating and set a $80.00 target price on shares of Nike in a report on Tuesday, December 4th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $84.19.
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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