Nike Inc (NYSE:NKE) is Mcmillion Capital Management Inc.’s 7th Largest Position
Mcmillion Capital Management Inc. lifted its position in Nike Inc (NYSE:NKE) by 1.8% in the first quarter, HoldingsChannel.com reports. The firm owned 67,481 shares of the footwear maker’s stock after buying an additional 1,191 shares during the period. Nike accounts for 3.1% of Mcmillion Capital Management Inc.’s investment portfolio, making the stock its 7th largest holding. Mcmillion Capital Management Inc.’s holdings in Nike were worth $5,683,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Nike in the first quarter valued at approximately $25,000. Shamrock Asset Management LLC bought a new position in Nike in the first quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. bought a new position in Nike in the first quarter worth approximately $25,000. Next Capital Management LLC bought a new position in Nike in the fourth quarter worth approximately $26,000. Finally, Mackey Komara & Dankovich LLC bought a new position in Nike in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 65.70% of the company’s stock.
Shares of NKE stock opened at $83.61 on Friday. The firm has a market cap of $129.87 billion, a PE ratio of 34.55, a price-to-earnings-growth ratio of 2.10 and a beta of 0.76. 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 12-month low of $66.53 and a 12-month high of $90.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, May 31st. Nike’s payout ratio is 36.36%.
In related news, EVP Monique S. Matheson sold 16,500 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was 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 this hyperlink. Also, insider Eric D. Sprunk sold 40,004 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total value of $3,513,151.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 166,504 shares of company stock worth $14,320,816. 3.90% of the stock is owned by insiders.
NKE has been the subject of a number of recent research reports. Morgan Stanley set a $103.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday, March 22nd. Cowen set a $90.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday, March 22nd. Wells Fargo & Co boosted their price objective on shares of Nike from $76.00 to $80.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. Bank of America boosted their price objective on shares of Nike from $55.00 to $60.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 19th. Finally, Telsey Advisory Group boosted their price objective on shares of Nike from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average target price of $87.39.
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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