Nike Inc (NKE) Shares Sold by Vision Capital Management Inc.
Vision Capital Management Inc. lowered its holdings in shares of Nike Inc (NYSE:NKE) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,509 shares of the footwear maker’s stock after selling 1,340 shares during the quarter. Vision Capital Management Inc.’s holdings in Nike were worth $2,671,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Willingdon Wealth Management purchased a new stake in shares of Nike during the third quarter worth about $114,000. Asset Planning Services Ltd. grew its position in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC purchased a new stake in shares of Nike during the second quarter worth about $136,000. Howe & Rusling Inc. grew its position in shares of Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Kistler Tiffany Companies LLC grew its position in shares of Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares in the last quarter. Hedge funds and other institutional investors own 62.67% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) opened at $64.29 on Friday. Nike Inc has a one year low of $50.35 and a one year high of $65.18. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $104,890.00, a P/E ratio of 27.83, a P/E/G ratio of 2.90 and a beta of 0.64.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the company earned $0.50 EPS. Nike’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts anticipate that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. Nike’s payout ratio is 34.63%.
Several research firms recently issued reports on NKE. Goldman Sachs Group set a $59.00 target price on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 14th. HSBC cut Nike from a “buy” rating to a “hold” rating and increased their target price for the stock from $58.95 to $62.00 in a research report on Tuesday, November 28th. Buckingham Research began coverage on Nike in a research report on Sunday, December 31st. They set a “buy” rating and a $72.00 target price for the company. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, B. Riley raised their price target on Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $64.40.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction 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 approximately $90,124,612.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 967,896 shares of company stock valued at $60,257,267. 3.90% of the stock is currently owned by corporate insiders.
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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