Capital Research Global Investors trimmed its position in shares of Nike Inc (NYSE:NKE) by 39.8% during the 4th quarter, HoldingsChannel reports. The firm owned 18,789,590 shares of the footwear maker’s stock after selling 12,439,256 shares during the quarter. Capital Research Global Investors’ holdings in Nike were worth $1,903,573,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Palisade Asset Management LLC lifted its position in Nike by 0.3% in the fourth quarter. Palisade Asset Management LLC now owns 39,098 shares of the footwear maker’s stock worth $3,961,000 after purchasing an additional 98 shares during the period. Capital Insight Partners LLC grew its position in Nike by 0.6% in the fourth quarter. Capital Insight Partners LLC now owns 17,905 shares of the footwear maker’s stock valued at $1,814,000 after acquiring an additional 104 shares during the period. Kovack Advisors Inc. grew its position in Nike by 4.1% in the fourth quarter. Kovack Advisors Inc. now owns 2,631 shares of the footwear maker’s stock valued at $267,000 after acquiring an additional 104 shares during the period. Cornerstone Advisors Inc. raised its stake in Nike by 2.3% during the fourth quarter. Cornerstone Advisors Inc. now owns 4,734 shares of the footwear maker’s stock worth $480,000 after acquiring an additional 107 shares in the last quarter. Finally, We Are One Seven LLC lifted its holdings in shares of Nike by 2.7% during the fourth quarter. We Are One Seven LLC now owns 4,306 shares of the footwear maker’s stock valued at $436,000 after acquiring an additional 113 shares during the period. 65.40% of the stock is currently owned by institutional investors.
In related news, EVP Monique S. Matheson sold 8,500 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $892,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $101.26, for a total value of $11,138,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 271,916 shares of company stock valued at $27,686,864. 3.80% of the stock is owned by corporate insiders.
Shares of Nike stock traded up $7.63 on Thursday, hitting $86.64. 694,911 shares of the company’s stock traded hands, compared to its average volume of 15,216,662. The firm’s 50-day moving average price is $89.43 and its two-hundred day moving average price is $93.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.98 and a quick ratio of 1.23. The stock has a market capitalization of $112.64 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.28 and a beta of 0.84. Nike Inc has a one year low of $60.00 and a one year high of $105.62.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.19. The business had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.56 billion. Nike had a return on equity of 51.28% and a net margin of 10.46%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, analysts forecast that Nike Inc will post 2.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.245 per share. The ex-dividend date is Friday, February 28th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.13%. Nike’s dividend payout ratio is 39.36%.
NKE has been the subject of a number of recent analyst reports. BMO Capital Markets dropped their target price on shares of Nike from $110.00 to $87.00 and set an “outperform” rating for the company in a research report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of Nike in a research note on Friday, December 13th. Cowen reiterated an “outperform” rating and issued a $85.00 target price (up previously from $75.00) on shares of Nike in a research note on Wednesday. Wedbush began coverage on Nike in a research report on Wednesday. They set an “outperform” rating and a $93.00 price target on the stock. Finally, Consumer Edge assumed coverage on Nike in a report on Friday, December 27th. They set an “overweight” rating and a $110.00 price target for the company. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $97.79.
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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