Buckingham Asset Management LLC boosted its stake in shares of Nike Inc (NYSE:NKE) by 34.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,565 shares of the footwear maker’s stock after purchasing an additional 2,941 shares during the period. Buckingham Asset Management LLC’s holdings in Nike were worth $974,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Thrivent Financial for Lutherans lifted its position in shares of Nike by 42.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock valued at $158,219,000 after buying an additional 635,410 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Nike in the first quarter valued at approximately $202,000. WealthTrust Fairport LLC lifted its position in shares of Nike by 2.7% in the fourth quarter. WealthTrust Fairport LLC now owns 60,157 shares of the footwear maker’s stock valued at $4,460,000 after buying an additional 1,604 shares during the last quarter. Tiemann Investment Advisors LLC lifted its position in shares of Nike by 2.4% in the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after buying an additional 125 shares during the last quarter. Finally, Brinker Capital Inc. lifted its position in shares of Nike by 4.1% in the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock valued at $6,375,000 after buying an additional 3,400 shares during the last quarter. 65.78% of the stock is owned by hedge funds and other institutional investors.
In other Nike news, insider Eric D. Sprunk sold 40,004 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $87.82, for a total transaction of $3,513,151.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,504 shares of company stock worth $14,320,816. Corporate insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The business had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS. As a group, equities research analysts forecast that Nike Inc will post 2.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 1.07%. Nike’s payout ratio is currently 36.36%.
NKE has been the subject of a number of recent analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Nike in a research report on Tuesday, January 15th. Cowen raised Nike from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $90.00 in a research report on Tuesday, January 22nd. Rowe raised Nike from a “sell” rating to an “outperform” rating and set a $100.00 price objective for the company in a research report on Friday, February 8th. Oppenheimer raised their price objective on Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 8th. Finally, Wedbush raised their price objective on Nike from $90.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company. Nike has an average rating of “Buy” and an average price target of $87.10.
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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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