Nike Inc (NKE) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its position in Nike Inc (NYSE:NKE) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 6,818,620 shares of the footwear maker’s stock after buying an additional 305,404 shares during the quarter. Legal & General Group Plc’s holdings in Nike were worth $353,555,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Asset Planning Services Ltd. grew its stake in shares of Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares in the last quarter. Willingdon Wealth Management acquired a new position in shares of Nike in the third quarter worth $114,000. Atlantic Trust LLC acquired a new position in shares of Nike in the second quarter worth $136,000. Kistler Tiffany Companies LLC grew its stake in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares in the last quarter. Finally, Howe & Rusling Inc. grew its stake in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after acquiring an additional 2,329 shares in the last quarter. 62.67% of the stock is currently owned by institutional investors.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John F. Slusher sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $63.09, for a total transaction of $6,309,000.00. Following the completion of the sale, the executive vice president now directly owns 268,169 shares of the company’s stock, valued at $16,918,782.21. The disclosure for this sale can be found here. Insiders sold 967,896 shares of company stock valued at $60,257,267 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Nike’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts forecast that Nike Inc will post 2.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. Nike’s dividend payout ratio is presently 34.63%.
Several research firms have commented on NKE. B. Riley restated a “neutral” rating on shares of Nike in a research note on Wednesday, November 1st. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price target on shares of Nike in a research note on Friday, December 22nd. Raymond James Financial dropped their price target on shares of Nike from $71.00 to $67.00 and set an “outperform” rating for the company in a research note on Tuesday, September 19th. Susquehanna Bancshares restated a “neutral” rating and issued a $64.00 price target on shares of Nike in a research note on Tuesday, September 19th. Finally, FBR & Co reiterated a “hold” rating and set a $53.00 target price on shares of Nike in a research note on Thursday, September 14th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $64.14.
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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.
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