North Star Asset Management Inc. increased its position in shares of Nike Inc (NYSE:NKE) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,512 shares of the footwear maker’s stock after buying an additional 4,780 shares during the period. North Star Asset Management Inc.’s holdings in Nike were worth $3,629,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Asset Planning Services Ltd. boosted its holdings in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares in the last quarter. Kistler Tiffany Companies LLC boosted its holdings in Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Nike by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares during the period. Oakworth Capital Inc. lifted its holdings in shares of Nike by 14.3% during the second quarter. Oakworth Capital Inc. now owns 2,994 shares of the footwear maker’s stock worth $177,000 after purchasing an additional 374 shares during the period. Finally, Seven Bridges Advisors LLC lifted its holdings in shares of Nike by 18.2% during the second quarter. Seven Bridges Advisors LLC now owns 3,030 shares of the footwear maker’s stock worth $179,000 after purchasing an additional 467 shares during the period. Hedge funds and other institutional investors own 62.67% of the company’s stock.
Shares of Nike Inc (NYSE NKE) traded down $0.40 during trading on Friday, reaching $62.55. The company had a trading volume of 5,222,065 shares, compared to its average volume of 9,666,874. Nike Inc has a 52-week low of $50.35 and a 52-week high of $65.18. The firm has a market capitalization of $102,703.99, a PE ratio of 27.08, a P/E/G ratio of 2.85 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is currently 34.63%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 516,134 shares of company stock worth $31,743,284. 3.90% of the stock is currently owned by insiders.
NKE has been the subject of a number of research reports. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price for the company in a report on Wednesday, October 4th. Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 price target on shares of Nike in a report on Wednesday, December 13th. DA Davidson boosted their price objective on Nike from $68.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity restated a “hold” rating and issued a $50.00 price objective (down from $51.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Instinet reiterated a “buy” rating and set a $62.00 price target (up from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $63.75.
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Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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