Strategic Wealth Partners Ltd. lifted its stake in shares of NIKE, Inc. (NYSE:NKE – Get Rating) by 43.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,471 shares of the footwear maker’s stock after buying an additional 5,263 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in NIKE were worth $2,351,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Rafferty Asset Management LLC lifted its stake in NIKE by 128.5% in the fourth quarter. Rafferty Asset Management LLC now owns 11,999 shares of the footwear maker’s stock valued at $2,000,000 after buying an additional 6,748 shares during the last quarter. Stonegate Investment Group LLC purchased a new stake in NIKE in the 4th quarter valued at $2,484,000. Bigelow Investment Advisors LLC raised its position in NIKE by 0.7% in the 4th quarter. Bigelow Investment Advisors LLC now owns 11,039 shares of the footwear maker’s stock valued at $1,840,000 after purchasing an additional 81 shares during the last quarter. Equitable Holdings Inc. raised its position in NIKE by 3.2% in the 4th quarter. Equitable Holdings Inc. now owns 41,553 shares of the footwear maker’s stock valued at $6,926,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Core Alternative Capital raised its position in NIKE by 645.3% in the 4th quarter. Core Alternative Capital now owns 954 shares of the footwear maker’s stock valued at $159,000 after purchasing an additional 826 shares during the last quarter. Hedge funds and other institutional investors own 64.19% of the company’s stock.
Insider Buying and Selling
In other news, CFO Matthew Friend sold 4,139 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $469,445.38. Following the sale, the chief financial officer now owns 56,539 shares in the company, valued at $6,412,653.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Andrew Campion sold 5,922 shares of NIKE stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $671,673.24. Following the sale, the chief operating officer now directly owns 75,295 shares in the company, valued at approximately $8,539,958.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Friend sold 4,139 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total value of $469,445.38. Following the completion of the sale, the chief financial officer now directly owns 56,539 shares in the company, valued at approximately $6,412,653.38. The disclosure for this sale can be found here. Insiders have sold 59,561 shares of company stock worth $6,374,094 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.
NIKE Stock Performance
NIKE (NYSE:NKE – Get Rating) last issued its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.09. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $12.10 billion. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 3.78 earnings per share for the current fiscal year.
NIKE declared that its board has initiated a stock repurchase program on Monday, June 27th that permits the company to buyback $18.00 billion in outstanding shares. This buyback authorization permits the footwear maker to buy up to 11% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
NIKE Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, September 2nd. NIKE’s dividend payout ratio is presently 32.45%.
Analyst Ratings Changes
A number of brokerages have recently commented on NKE. KeyCorp began coverage on shares of NIKE in a report on Wednesday, July 20th. They issued a “sector weight” rating for the company. Cowen reduced their price objective on NIKE from $127.00 to $124.00 and set an “outperform” rating for the company in a research note on Monday. Stifel Nicolaus cut their price target on NIKE from $135.00 to $130.00 in a research note on Wednesday, July 20th. Exane BNP Paribas cut NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price target for the company. in a research note on Tuesday, August 9th. Finally, Barclays cut their price objective on shares of NIKE from $140.00 to $125.00 and set an “overweight” rating for the company in a research report on Wednesday, June 29th. Ten equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $136.42.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
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