KCM Investment Advisors LLC raised its stake in Nike Inc (NYSE:NKE) by 0.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 188,648 shares of the footwear maker’s stock after acquiring an additional 859 shares during the period. KCM Investment Advisors LLC’s holdings in Nike were worth $19,112,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Firestone Capital Management bought a new stake in shares of Nike during the 4th quarter valued at about $25,000. LFA Lugano Financial Advisors SA acquired a new position in Nike in the fourth quarter valued at approximately $33,000. Carmichael Hill & Associates Inc. bought a new position in shares of Nike during the fourth quarter valued at approximately $37,000. PSI Advisors LLC bought a new position in shares of Nike during the fourth quarter valued at approximately $37,000. Finally, Savior LLC acquired a new stake in shares of Nike during the 4th quarter worth approximately $40,000. 65.40% of the stock is owned by institutional investors.
Several analysts recently issued reports on the company. Morgan Stanley cut their price target on Nike from $119.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday. Citigroup upped their price objective on Nike from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. UBS Group dropped their target price on Nike from $123.00 to $114.00 and set a “buy” rating on the stock in a research report on Wednesday. HSBC lowered Nike from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research report on Wednesday, February 26th. They noted that the move was a valuation call. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 target price on shares of Nike in a research note on Thursday, February 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $97.79.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.19. Nike had a net margin of 10.46% and a return on equity of 51.28%. The business had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $9.56 billion. During the same period last year, the firm posted $0.68 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Nike Inc will post 2.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a $0.245 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.98 dividend on an annualized basis and a yield of 1.13%. Nike’s dividend payout ratio (DPR) is 39.36%.
In other Nike news, insider Elliott Hill sold 90,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $102.50, for a total value of $9,225,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 8,500 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $892,500.00. The disclosure for this sale can be found here. Insiders sold 271,916 shares of company stock valued at $27,686,864 over the last 90 days. 3.80% of the stock is currently owned by insiders.
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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