National Asset Management Inc. lifted its holdings in Nike Inc (NYSE:NKE) by 15.0% during the 1st quarter, HoldingsChannel reports. The fund owned 16,059 shares of the footwear maker’s stock after acquiring an additional 2,097 shares during the quarter. National Asset Management Inc.’s holdings in Nike were worth $1,330,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Firestone Capital Management acquired a new stake in Nike during the fourth quarter worth about $25,000. Sowa Financial Group Inc. acquired a new stake in Nike during the fourth quarter worth about $27,000. Kessler Investment Group LLC acquired a new stake in Nike during the first quarter worth about $27,000. Sugarloaf Wealth Management LLC grew its stake in Nike by 68.9% during the first quarter. Sugarloaf Wealth Management LLC now owns 402 shares of the footwear maker’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake in Nike by 100.5% during the first quarter. Benjamin Edwards Inc. now owns 399 shares of the footwear maker’s stock worth $33,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.08% of the company’s stock.
A number of brokerages have issued reports on NKE. Oppenheimer began coverage on shares of Nike in a research note on Friday, May 15th. They set a “buy” rating and a $115.00 price objective on the stock. Deutsche Bank reissued a “neutral” rating and issued a $84.00 target price on shares of Nike in a report on Wednesday, April 29th. Bank of America raised shares of Nike from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $105.00 to $85.00 in a report on Friday, March 20th. Needham & Company LLC dropped their target price on shares of Nike from $105.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, HSBC reissued a “neutral” rating and issued a $96.00 target price on shares of Nike in a report on Thursday, April 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $98.18.
Shares of NYSE NKE traded down $0.51 during midday trading on Friday, reaching $93.75. The stock had a trading volume of 4,040,519 shares, compared to its average volume of 6,715,255. The firm has a market cap of $146.58 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 2.92 and a beta of 0.75. Nike Inc has a twelve month low of $60.00 and a twelve month high of $105.62. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.20 and a current ratio of 1.90. The company’s 50 day moving average price is $87.02 and its 200 day moving average price is $92.42.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.19. The firm had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $9.56 billion. Nike had a net margin of 10.46% and a return on equity of 51.49%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. Equities analysts forecast that Nike Inc will post 2.64 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.245 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.05%. Nike’s dividend payout ratio (DPR) is currently 39.36%.
In related news, Director John W. Rogers, Jr. acquired 1,000 shares of the stock in a transaction dated Friday, April 3rd. The stock was bought at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the purchase, the director now directly owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Thursday, March 26th. The stock was bought at an average price of $84.22 per share, with a total value of $210,550.00. Following the purchase, the director now directly owns 11,851 shares in the company, valued at $998,091.22. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by 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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