First Trust Advisors LP Buys 24,219 Shares of Nike Inc (NKE)
First Trust Advisors LP lifted its stake in Nike Inc (NYSE:NKE) by 11.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 244,512 shares of the footwear maker’s stock after acquiring an additional 24,219 shares during the quarter. First Trust Advisors LP’s holdings in Nike were worth $12,678,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in NKE. Raymond James Trust N.A. grew its holdings in Nike by 2.9% during the third quarter. Raymond James Trust N.A. now owns 55,115 shares of the footwear maker’s stock worth $2,857,000 after purchasing an additional 1,565 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Nike by 33.7% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 10,672 shares of the footwear maker’s stock worth $553,000 after purchasing an additional 2,688 shares during the period. Stock Yards Bank & Trust Co. grew its holdings in Nike by 0.8% during the third quarter. Stock Yards Bank & Trust Co. now owns 252,244 shares of the footwear maker’s stock worth $13,078,000 after purchasing an additional 1,942 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Nike by 1.5% during the third quarter. Xact Kapitalforvaltning AB now owns 218,625 shares of the footwear maker’s stock worth $11,336,000 after purchasing an additional 3,263 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in Nike by 5.8% during the third quarter. Handelsbanken Fonder AB now owns 302,300 shares of the footwear maker’s stock worth $15,674,000 after purchasing an additional 16,500 shares during the period. 62.78% of the stock is currently owned by institutional investors and hedge funds.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares in the company, valued at $1,441,376. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
A number of research firms recently commented on NKE. Goldman Sachs Group set a $59.00 price target on Nike and gave the stock a “neutral” rating in a report on Thursday. HSBC cut Nike from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $58.95 to $62.00 in a report on Tuesday, November 28th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Citigroup restated a “buy” rating and set a $65.00 price objective (down previously from $67.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Deutsche Bank set a $76.00 price objective on Nike and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a sell rating, nineteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.67.
Shares of Nike Inc (NYSE:NKE) traded up $0.23 during mid-day trading on Friday, hitting $64.53. The company had a trading volume of 13,055,000 shares, compared to its average volume of 9,579,943. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $104,906.55, a PE ratio of 27.36, a P/E/G ratio of 3.01 and a beta of 0.64. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $64.85.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. equities research analysts predict that Nike Inc will post 2.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a dividend of $0.20 per share. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, December 1st. Nike’s payout ratio is currently 34.04%.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.