US Bancorp DE reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,197,723 shares of the footwear maker’s stock after selling 97,640 shares during the quarter. US Bancorp DE owned about 0.08% of NIKE worth $159,165,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Key Financial Inc bought a new stake in shares of NIKE during the 4th quarter worth $25,000. Tsfg LLC boosted its stake in shares of NIKE by 583.3% during the 4th quarter. Tsfg LLC now owns 205 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 175 shares in the last quarter. Addison Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth $30,000. DB Wealth Management Group LLC bought a new stake in shares of NIKE during the 4th quarter worth $30,000. Finally, Joseph P. Lucia & Associates LLC bought a new stake in shares of NIKE during the 4th quarter worth $32,000. 64.20% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Mark G. Parker sold 114,094 shares of NIKE stock in a transaction that occurred on Friday, March 26th. The shares were sold at an average price of $130.67, for a total value of $14,908,662.98. Following the completion of the transaction, the chairman now owns 1,537,729 shares in the company, valued at $200,935,048.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 15,000 shares of NIKE stock in a transaction that occurred on Wednesday, April 14th. The shares were sold at an average price of $133.54, for a total transaction of $2,003,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,482 shares of company stock valued at $17,342,141. Corporate insiders own 3.80% of the company’s stock.
NIKE (NYSE:NKE) last released its earnings results on Wednesday, March 17th. The footwear maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.15. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.98 billion. During the same period last year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 1st were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date was Friday, February 26th. NIKE’s dividend payout ratio is 59.46%.
Several research firms have recently weighed in on NKE. Zacks Investment Research lowered NIKE from a “buy” rating to a “hold” rating and set a $146.00 price objective for the company. in a research note on Monday, March 22nd. HSBC increased their target price on NIKE from $158.00 to $162.00 and gave the company a “buy” rating in a report on Wednesday, March 31st. KeyCorp increased their target price on NIKE from $174.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, January 25th. Cowen increased their target price on NIKE from $170.00 to $173.00 and gave the company an “outperform” rating in a report on Tuesday, March 23rd. Finally, Barclays restated a “buy” rating and issued a $174.00 target price on shares of NIKE in a report on Friday, March 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $159.83.
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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