Ferguson Wellman Capital Management Inc. reduced its stake in Nike Inc (NYSE:NKE) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,056 shares of the footwear maker’s stock after selling 1,949 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Nike were worth $5,596,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in NKE. Chevy Chase Trust Holdings Inc. grew its stake in shares of Nike by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,609,608 shares of the footwear maker’s stock valued at $128,253,000 after acquiring an additional 6,256 shares in the last quarter. Riverhead Capital Management LLC grew its stake in shares of Nike by 7.6% in the second quarter. Riverhead Capital Management LLC now owns 21,710 shares of the footwear maker’s stock valued at $1,730,000 after acquiring an additional 1,525 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Nike by 49.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 531,637 shares of the footwear maker’s stock valued at $42,361,000 after acquiring an additional 175,587 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Nike by 362.6% in the second quarter. Envestnet Asset Management Inc. now owns 684,436 shares of the footwear maker’s stock valued at $54,536,000 after acquiring an additional 536,468 shares in the last quarter. Finally, Dragon Financial & Investment Group LLC acquired a new position in shares of Nike in the second quarter valued at about $215,000. Hedge funds and other institutional investors own 64.50% of the company’s stock.
Several equities analysts recently commented on NKE shares. Needham & Company LLC restated a “neutral” rating on shares of Nike in a research note on Thursday, September 13th. HSBC set a $92.00 price target on shares of Nike and gave the company a “buy” rating in a research note on Thursday, September 6th. Daiwa Capital Markets set a $85.00 price target on shares of Nike and gave the company a “hold” rating in a research note on Monday, October 1st. Pivotal Research set a $85.00 price target on shares of Nike and gave the company a “hold” rating in a research note on Friday, September 21st. Finally, Oppenheimer upgraded shares of Nike from a “market perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Thursday, October 18th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $84.75.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. As a group, analysts anticipate that Nike Inc will post 2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. Nike’s dividend payout ratio (DPR) is currently 33.06%.
In other news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total value of $1,445,000.00. Following the completion of the transaction, the executive vice president now owns 104,737 shares of the company’s stock, valued at $8,902,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the transaction, the director now directly owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock valued at $4,980,050 in the last three months. Company insiders own 3.90% of the company’s stock.
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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