IHT Wealth Management LLC lifted its position in shares of Nike Inc (NYSE:NKE) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,541 shares of the footwear maker’s stock after acquiring an additional 2,043 shares during the quarter. IHT Wealth Management LLC’s holdings in Nike were worth $955,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Candriam Luxembourg S.C.A. lifted its holdings in shares of Nike by 40.0% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 414,052 shares of the footwear maker’s stock valued at $41,948,000 after buying an additional 118,289 shares during the period. Koshinski Asset Management Inc. acquired a new position in Nike during the fourth quarter worth $424,000. Kovack Advisors Inc. raised 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 worth $267,000 after acquiring an additional 104 shares in the last quarter. Putnam FL Investment Management Co. lifted its holdings in Nike by 17.3% in the fourth quarter. Putnam FL Investment Management Co. now owns 16,670 shares of the footwear maker’s stock valued at $1,689,000 after acquiring an additional 2,461 shares during the period. Finally, Creative Planning lifted its holdings in Nike by 0.3% in the fourth quarter. Creative Planning now owns 127,003 shares of the footwear maker’s stock valued at $12,867,000 after acquiring an additional 319 shares during the period. 64.54% of the stock is owned by hedge funds and other institutional investors.
In other Nike news, COO Andrew Campion sold 60,000 shares of Nike stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $98.00, for a total transaction of $5,880,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were acquired at an average price of $84.22 per share, with a total value of $210,550.00. Following the completion of the purchase, the director now owns 11,851 shares of the company’s stock, valued at $998,091.22. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.
A number of equities analysts have recently issued reports on NKE shares. Jefferies Financial Group reiterated a “hold” rating and issued a $83.00 price target on shares of Nike in a report on Friday, May 1st. Raymond James dropped their target price on shares of Nike from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Pivotal Research decreased their price target on Nike from $117.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Susquehanna Bancshares restated a “buy” rating and issued a $115.00 price target on shares of Nike in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Nike from $75.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Nike presently has a consensus rating of “Buy” and a consensus price target of $98.88.
Shares of NKE traded up $0.12 during mid-day trading on Tuesday, hitting $99.66. The company had a trading volume of 73,948 shares, compared to its average volume of 6,479,829. Nike Inc has a 1-year low of $60.00 and a 1-year high of $105.62. The business’s 50-day simple moving average is $89.87 and its 200-day simple moving average is $92.77. The stock has a market cap of $153.30 billion, a PE ratio of 36.73, a P/E/G ratio of 3.05 and a beta of 0.78. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.19. The company had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.56 billion. Nike had a net margin of 10.46% and a return on equity of 51.49%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. On average, sell-side analysts expect that Nike Inc will post 2.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.245 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.98 annualized dividend and a yield of 0.98%. Nike’s dividend payout ratio is presently 39.36%.
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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