Coastline Trust Co Sells 415 Shares of Nike Inc (NYSE:NKE)
Coastline Trust Co lessened its holdings in Nike Inc (NYSE:NKE) by 0.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,380 shares of the footwear maker’s stock after selling 415 shares during the quarter. Coastline Trust Co’s holdings in Nike were worth $5,104,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Boenning & Scattergood Inc. grew its holdings in shares of Nike by 1.5% in the 4th quarter. Boenning & Scattergood Inc. now owns 14,623 shares of the footwear maker’s stock worth $1,481,000 after purchasing an additional 216 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of Nike by 4.9% in the 4th quarter. Calamos Advisors LLC now owns 642,879 shares of the footwear maker’s stock worth $65,130,000 after purchasing an additional 29,921 shares during the last quarter. Calamos Wealth Management LLC grew its holdings in shares of Nike by 1.6% in the 4th quarter. Calamos Wealth Management LLC now owns 66,869 shares of the footwear maker’s stock worth $6,774,000 after purchasing an additional 1,041 shares during the last quarter. UNIVEST FINANCIAL Corp grew its holdings in shares of Nike by 19.6% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 63,727 shares of the footwear maker’s stock worth $3,239,000 after purchasing an additional 10,456 shares during the last quarter. Finally, Donaldson Capital Management LLC grew its holdings in shares of Nike by 2.1% in the 4th quarter. Donaldson Capital Management LLC now owns 71,374 shares of the footwear maker’s stock worth $7,231,000 after purchasing an additional 1,455 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $93.55, for a total transaction of $15,435,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,046,040 shares of the company’s stock, valued at approximately $191,407,042. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Elliott Hill sold 90,000 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $102.50, for a total value of $9,225,000.00. The disclosure for this sale can be found here. Insiders sold a total of 477,916 shares of company stock worth $46,659,474 over the last quarter. 3.80% of the stock is currently owned by corporate insiders.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.09 billion. Nike had a net margin of 11.21% and a return on equity of 50.03%. Nike’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. On average, equities analysts anticipate that Nike Inc will post 3.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.95%. This is an increase from Nike’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, November 29th. Nike’s dividend payout ratio (DPR) is currently 39.36%.
Several equities research analysts have recently weighed in on NKE shares. Needham & Company LLC upped their target price on shares of Nike from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. UBS Group upped their price target on shares of Nike from $97.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. Jefferies Financial Group reiterated a “neutral” rating and set a $97.00 price target on shares of Nike in a research report on Wednesday, January 1st. Evercore ISI assumed coverage on shares of Nike in a research report on Friday, December 20th. They set a “buy” rating and a $150.00 price target on the stock. Finally, Consumer Edge assumed coverage on shares of Nike in a research report on Friday, December 27th. They set an “overweight” rating and a $110.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $106.19.
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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