Hall Laurie J Trustee grew its holdings in shares of Nike Inc (NYSE:NKE) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,275 shares of the footwear maker’s stock after purchasing an additional 500 shares during the period. Nike comprises about 1.2% of Hall Laurie J Trustee’s portfolio, making the stock its 26th biggest position. Hall Laurie J Trustee’s holdings in Nike were worth $2,212,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings 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 acquiring an additional 635,410 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Nike in the first quarter valued at approximately $202,000. WealthTrust Fairport LLC boosted its holdings 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 acquiring an additional 1,604 shares during the period. Tiemann Investment Advisors LLC boosted its holdings 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 acquiring an additional 125 shares during the period. Finally, Brinker Capital Inc. boosted its holdings 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 acquiring an additional 3,400 shares during the period. 66.17% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on the company. Telsey Advisory Group increased their price objective on Nike from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, March 18th. Wells Fargo & Co increased their price objective on Nike from $76.00 to $80.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. Bank of America increased their price objective on Nike from $55.00 to $60.00 and gave the company an “underperform” rating in a report on Tuesday, March 19th. Rowe raised Nike from a “sell” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Friday, February 8th. Finally, Citigroup assumed coverage on Nike in a report on Wednesday, April 10th. They issued a “buy” rating and a $100.00 price objective for the company. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $87.10.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $0.68 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts expect that Nike Inc will post 2.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, May 31st. Nike’s payout ratio is 36.36%.
In related news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $85.02, for a total transaction of $9,352,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 40,004 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total value of $3,513,151.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,504 shares of company stock worth $14,320,816. 3.90% of the stock is owned by corporate insiders.
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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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