Montag A & Associates Inc. reduced its holdings in shares of Nike Inc (NYSE:NKE) by 0.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,559 shares of the footwear maker’s stock after selling 125 shares during the quarter. Montag A & Associates Inc.’s holdings in Nike were worth $3,415,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of NKE. Next Capital Management LLC purchased a new position in Nike during the 4th quarter valued at about $26,000. Gemmer Asset Management LLC increased its holdings in Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new position in Nike during the 4th quarter valued at about $34,000. Arcadia Investment Management Corp MI increased its holdings in Nike by 45.4% during the 1st quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock valued at $35,000 after acquiring an additional 128 shares in the last quarter. Finally, Acima Private Wealth LLC purchased a new position in Nike during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 65.94% of the company’s stock.
In related news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total value of $9,352,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 40,004 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The disclosure for this sale can be found here. Insiders sold 166,504 shares of company stock worth $14,320,816 in the last 90 days. 3.90% of the stock is currently owned by insiders.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm posted $0.68 earnings per share. Nike’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts predict that Nike Inc will post 2.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 1.04%. Nike’s payout ratio is 36.36%.
NKE has been the subject of several recent research reports. Morgan Stanley set a $103.00 target price on shares of Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Cowen set a $90.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Co raised their price target on shares of Nike from $76.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Bank of America raised their price target on shares of Nike from $55.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 19th. Finally, Telsey Advisory Group raised their price target on shares of Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company. Nike has a consensus rating of “Buy” and a consensus target price of $87.10.
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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: 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.
See Also: Book Value Per Share – BVPS
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