Nike Inc (NKE) Position Decreased by Gofen & Glossberg LLC IL

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Gofen & Glossberg LLC IL reduced its stake in shares of Nike Inc (NYSE:NKE) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 337,271 shares of the footwear maker’s stock after selling 3,474 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Nike were worth $28,402,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NKE. Vanguard Group Inc. raised its position in Nike by 1.2% in the third quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after acquiring an additional 1,207,986 shares in the last quarter. Vanguard Group Inc increased its stake in Nike by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock worth $8,698,227,000 after purchasing an additional 1,207,986 shares in the last quarter. BlackRock Inc. increased its stake in Nike by 4.3% in the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after purchasing an additional 3,592,186 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Nike by 6,517.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock worth $476,000 after purchasing an additional 34,749,961 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Nike by 2.4% in the 4th quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock worth $1,555,886,000 after purchasing an additional 491,974 shares in the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.

In other news, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $78.00, for a total transaction of $11,700,000.00. Following the completion of the transaction, the chairman now directly owns 1,687,863 shares in the company, valued at $131,653,314. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $85.02, for a total value of $9,352,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 576,500 shares of company stock valued at $46,807,665. Corporate insiders own 3.90% of the company’s stock.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Nike from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $90.00 price target on shares of Nike in a research note on Friday. UBS Group lowered their price target on Nike from $87.00 to $86.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Citigroup assumed coverage on Nike in a research note on Wednesday, April 10th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Macquarie set a $96.00 price target on Nike and gave the company a “buy” rating in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the company. Nike has an average rating of “Buy” and a consensus target price of $87.10.

NKE opened at $86.24 on Monday. Nike Inc has a twelve month low of $64.99 and a twelve month high of $88.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. The company has a market capitalization of $133.77 billion, a P/E ratio of 35.64, a P/E/G ratio of 2.56 and a beta of 0.67.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities 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 was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.02%. Nike’s dividend payout ratio (DPR) is presently 36.36%.

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Nike 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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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