First Trust Advisors LP Trims Position in Nike Inc (NKE)
First Trust Advisors LP decreased its holdings in shares of Nike Inc (NYSE:NKE) by 2.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 238,351 shares of the footwear maker’s stock after selling 6,161 shares during the quarter. First Trust Advisors LP’s holdings in Nike were worth $14,909,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Janus Henderson Group PLC lifted its stake in Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after purchasing an additional 16,237,557 shares during the period. Capital World Investors lifted its stake in Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after purchasing an additional 8,058,601 shares during the period. Harding Loevner LP lifted its stake in Nike by 97.1% during the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock worth $390,421,000 after purchasing an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd bought a new position in Nike during the second quarter worth about $226,588,000. Finally, Alliancebernstein L.P. lifted its stake in Nike by 25.5% during the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after purchasing an additional 3,033,280 shares during the period. Hedge funds and other institutional investors own 65.06% of the company’s stock.
A number of research analysts have commented on NKE shares. Stifel Nicolaus set a $74.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Friday, December 15th. Guggenheim restated a “buy” rating and set a $70.00 price target on shares of Nike in a research note on Friday, December 15th. Deutsche Bank set a $76.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Thursday, December 14th. Argus raised shares of Nike from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.35 to $64.46 in a report on Thursday, December 14th. Finally, DA Davidson set a $68.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Nike has an average rating of “Hold” and an average target price of $65.61.
Shares of Nike Inc (NYSE:NKE) opened at $65.89 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $70.25. The company has a market cap of $107,199.01, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 2.98 and a beta of 0.68.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. equities analysts forecast that Nike Inc will post 2.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, March 2nd. Nike’s dividend payout ratio is presently 34.63%.
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.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).
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.