Bradley Foster & Sargent Inc. CT Reduces Stake in Nike Inc (NKE)
Bradley Foster & Sargent Inc. CT decreased its holdings in Nike Inc (NYSE:NKE) by 0.9% during the first quarter, HoldingsChannel.com reports. The firm owned 438,892 shares of the footwear maker’s stock after selling 4,102 shares during the period. Nike comprises about 1.3% of Bradley Foster & Sargent Inc. CT’s portfolio, making the stock its 21st biggest holding. Bradley Foster & Sargent Inc. CT’s holdings in Nike were worth $36,959,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Joseph P. Lucia & Associates LLC acquired a new position in Nike in the first quarter worth approximately $25,000. Next Capital Management LLC acquired a new position in Nike in the fourth quarter worth approximately $26,000. Mackey Komara & Dankovich LLC acquired a new position in Nike in the first quarter worth approximately $30,000. Clarfeld Financial Advisors LLC acquired a new position in Nike in the fourth quarter worth approximately $34,000. Finally, Arcadia Investment Management Corp MI increased its holdings in Nike by 45.4% in the first quarter. Arcadia Investment Management Corp MI now owns 410 shares of the footwear maker’s stock worth $35,000 after buying an additional 128 shares during the last quarter. Institutional investors own 65.94% of the company’s stock.
In other news, EVP John F. Slusher sold 110,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total value of $1,455,465.00. The disclosure for this sale can be found here. Insiders sold 166,504 shares of company stock valued at $14,320,816 over the last three months. 3.90% of the stock is owned by company insiders.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the 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 company had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Nike Inc will post 2.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 1.06%. Nike’s dividend payout ratio (DPR) is presently 36.36%.
A number of equities analysts recently commented on NKE shares. Canaccord Genuity set a $96.00 price objective on Nike and gave the stock a “buy” rating in a report on Monday, March 18th. Needham & Company LLC increased their price objective on Nike to $92.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Nomura increased their price objective on Nike from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Credit Suisse Group restated a “buy” rating and issued a $97.00 price objective on shares of Nike in a report on Friday, March 22nd. Finally, Cowen set a $90.00 price objective on Nike and gave the stock a “buy” rating in a report on Friday, March 22nd. Two investment 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 stock. The stock has an average rating of “Buy” and a consensus price target of $87.10.
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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