Nike Inc (NYSE:NKE) Shares Bought by Livforsakringsbolaget Skandia Omsesidigt
Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Nike Inc (NYSE:NKE) by 11.4% during the first quarter, HoldingsChannel.com reports. The firm owned 12,706 shares of the footwear maker’s stock after acquiring an additional 1,300 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Nike were worth $1,070,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of NKE. Jackson Grant Investment Advisers Inc. acquired a new stake in Nike in the first quarter valued at about $25,000. Shamrock Asset Management LLC bought a new position in shares of Nike during the first quarter worth about $25,000. Next Capital Management LLC bought a new stake in Nike in the fourth quarter worth approximately $26,000. Mackey Komara & Dankovich LLC bought a new stake in Nike in the first quarter worth approximately $30,000. Finally, Harvest Group Wealth Management LLC bought a new stake in Nike in the first quarter worth approximately $34,000. 65.70% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Piper Jaffray Companies set a $93.00 price objective on Nike and gave the company a “buy” rating in a research note on Friday, March 22nd. Macquarie set a $96.00 price objective on Nike and gave the stock a “buy” rating in a research report on Friday, March 22nd. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Citigroup assumed coverage on Nike in a research note on Wednesday, April 10th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Credit Suisse Group boosted their price objective on Nike from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, March 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $87.39.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $9.61 billion for the quarter, compared to analyst estimates of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. Nike’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, sell-side analysts forecast that Nike Inc will post 2.54 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 31st. Nike’s payout ratio is 36.36%.
In other news, insider Eric D. Sprunk sold 40,004 shares of Nike stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total value of $3,513,151.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,504 shares of company stock worth $14,320,816. Insiders own 3.90% of the company’s stock.
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Nike Company Profile
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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