Locust Wood Capital Advisers LLC Sells 25,705 Shares of Nike Inc (NKE)
Locust Wood Capital Advisers LLC decreased its holdings in Nike Inc (NYSE:NKE) by 14.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 154,540 shares of the footwear maker’s stock after selling 25,705 shares during the quarter. Nike accounts for approximately 1.0% of Locust Wood Capital Advisers LLC’s holdings, making the stock its 26th biggest holding. Locust Wood Capital Advisers LLC’s holdings in Nike were worth $13,014,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Argus Investors Counsel Inc. acquired a new stake in Nike in the 1st quarter valued at about $411,000. BTIM Corp. increased its position in Nike by 0.9% in the 1st quarter. BTIM Corp. now owns 1,145,430 shares of the footwear maker’s stock valued at $96,457,000 after acquiring an additional 10,152 shares in the last quarter. Confluence Investment Management LLC increased its position in Nike by 1.3% in the 1st quarter. Confluence Investment Management LLC now owns 261,739 shares of the footwear maker’s stock valued at $22,041,000 after acquiring an additional 3,418 shares in the last quarter. American Research & Management Co. acquired a new stake in Nike in the 1st quarter valued at about $147,000. Finally, Shine Investment Advisory Services Inc. increased its position in Nike by 7.8% in the 1st quarter. Shine Investment Advisory Services Inc. now owns 2,369 shares of the footwear maker’s stock valued at $199,000 after acquiring an additional 171 shares in the last quarter. Institutional investors own 65.62% of the company’s stock.
Shares of NKE opened at $89.20 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17. Nike Inc has a twelve month low of $64.99 and a twelve month high of $90.00. The company has a market capitalization of $140.20 billion, a price-to-earnings ratio of 36.86, a P/E/G ratio of 2.68 and a beta of 0.67.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.99%. Nike’s dividend payout ratio (DPR) is presently 36.36%.
In other news, EVP Monique S. Matheson sold 16,500 shares of Nike 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the completion of the sale, the chairman now owns 1,539,963 shares in the company, valued at $126,276,966. The disclosure for this sale can be found here. Insiders sold 316,504 shares of company stock worth $26,620,816 over the last quarter. 3.90% of the stock is owned by corporate insiders.
Several research firms have weighed in on NKE. Zacks Investment Research cut shares of Nike from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. JPMorgan Chase & Co. reissued a “buy” rating and set a $90.00 price objective on shares of Nike in a research note on Friday, April 12th. UBS Group reduced their price objective on shares of Nike from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a research note on Friday, March 22nd. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $87.10.
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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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