Abner Herrman & Brock LLC Buys 90,365 Shares of Nike Inc (NKE)

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Abner Herrman & Brock LLC grew its stake in Nike Inc (NYSE:NKE) by 196.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 136,463 shares of the footwear maker’s stock after purchasing an additional 90,365 shares during the quarter. Nike comprises approximately 1.8% of Abner Herrman & Brock LLC’s portfolio, making the stock its 24th biggest holding. Abner Herrman & Brock LLC’s holdings in Nike were worth $10,117,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its holdings in shares of Nike by 1.9% in the third quarter. Commonwealth Bank of Australia now owns 104,676 shares of the footwear maker’s stock valued at $8,861,000 after purchasing an additional 1,942 shares during the period. Sustainable Insight Capital Management LLC increased its holdings in shares of Nike by 30.3% in the third quarter. Sustainable Insight Capital Management LLC now owns 4,564 shares of the footwear maker’s stock valued at $387,000 after purchasing an additional 1,061 shares during the period. MML Investors Services LLC increased its holdings in shares of Nike by 148.9% in the third quarter. MML Investors Services LLC now owns 109,564 shares of the footwear maker’s stock valued at $9,282,000 after purchasing an additional 65,550 shares during the period. Credit Suisse AG increased its holdings in shares of Nike by 6.8% in the third quarter. Credit Suisse AG now owns 3,719,280 shares of the footwear maker’s stock valued at $315,098,000 after purchasing an additional 237,127 shares during the period. Finally, BSW Wealth Partners acquired a new position in Nike during the third quarter worth $215,000. 63.99% of the stock is currently owned by institutional investors and hedge funds.

NKE traded up $0.15 during trading on Friday, reaching $76.57. 318,008 shares of the stock were exchanged, compared to its average volume of 8,586,630. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. The company has a market cap of $121.63 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 2.37 and a beta of 0.69. Nike Inc has a 1 year low of $62.09 and a 1 year high of $86.04.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the prior year, the business earned $0.46 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Nike Inc will post 2.62 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd were given a $0.22 dividend. This is an increase from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, November 30th. Nike’s dividend payout ratio is currently 36.36%.

In other news, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total value of $11,052,000.00. Following the sale, the chairman now directly owns 1,687,863 shares in the company, valued at $124,361,745.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the sale, the executive vice president now owns 284,805 shares in the company, valued at $21,089,810.25. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on NKE. Zacks Investment Research lowered Nike from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Piper Jaffray Companies set a $93.00 price objective on Nike and gave the stock a “buy” rating in a report on Monday, September 17th. HSBC lowered Nike from a “neutral” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. set a $85.00 price objective on Nike and gave the stock a “buy” rating in a report on Wednesday, January 2nd. Finally, Needham & Company LLC raised Nike from a “hold” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $83.14.

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About Nike

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.

Further Reading: Preferred Stock

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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