Clearbridge Investments LLC Has $10.03 Million Position in Nike (NKE)
Clearbridge Investments LLC raised its stake in shares of Nike (NYSE:NKE) by 10.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 160,419 shares of the footwear maker’s stock after purchasing an additional 14,556 shares during the period. Clearbridge Investments LLC’s holdings in Nike were worth $10,034,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Amalgamated Bank raised its position in Nike by 2.0% during the 3rd quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock worth $8,261,000 after purchasing an additional 3,189 shares during the last quarter. Stifel Financial Corp grew its holdings in Nike by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock worth $68,428,000 after acquiring an additional 49,251 shares during the period. Sun Life Financial INC grew its holdings in Nike by 23,747.5% during the 2nd quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock worth $563,000 after acquiring an additional 9,499 shares during the period. Sather Financial Group Inc acquired a new stake in Nike during the 2nd quarter worth about $9,275,000. Finally, Capital Bank & Trust Co grew its holdings in Nike by 63.7% during the 3rd quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock worth $33,897,000 after acquiring an additional 254,372 shares during the period. 65.65% of the stock is owned by institutional investors and hedge funds.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the insider now directly 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 three months, insiders have sold 912,802 shares of company stock worth $58,993,107. Insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last posted its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter last year, the firm earned $0.50 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. sell-side analysts forecast that Nike will post 2.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.21%. Nike’s dividend payout ratio is currently 34.63%.
A number of analysts have weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of Nike in a report on Friday, December 22nd. Macquarie set a $72.00 price target on Nike and gave the stock a “buy” rating in a report on Thursday, January 11th. Cowen set a $64.00 price target on Nike and gave the stock a “hold” rating in a report on Thursday, January 11th. Pivotal Research reiterated a “hold” rating and set a $65.00 price target (up from $62.00) on shares of Nike in a report on Wednesday. Finally, UBS set a $76.00 price target on Nike and gave the stock a “buy” rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $66.42.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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