Rehmann Capital Advisory Group Sells 8,134 Shares of Nike Inc (NKE)
Rehmann Capital Advisory Group lowered its position in Nike Inc (NYSE:NKE) by 53.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,224 shares of the footwear maker’s stock after selling 8,134 shares during the period. Rehmann Capital Advisory Group’s holdings in Nike were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. Rothschild Investment Corp IL lifted its holdings in Nike by 9.4% in the third quarter. Rothschild Investment Corp IL now owns 15,194 shares of the footwear maker’s stock valued at $788,000 after acquiring an additional 1,300 shares during the period. Abbot Financial Management Inc. lifted its holdings in Nike by 5.5% in the third quarter. Abbot Financial Management Inc. now owns 45,811 shares of the footwear maker’s stock valued at $2,447,000 after acquiring an additional 2,378 shares during the period. Korea Investment CORP lifted its holdings in Nike by 5.0% in the third quarter. Korea Investment CORP now owns 638,367 shares of the footwear maker’s stock valued at $33,099,000 after acquiring an additional 30,500 shares during the period. Aperio Group LLC lifted its holdings in Nike by 3.3% in the third quarter. Aperio Group LLC now owns 867,991 shares of the footwear maker’s stock valued at $45,005,000 after acquiring an additional 27,460 shares during the period. Finally, Saratoga Research & Investment Management lifted its holdings in Nike by 2.0% in the third quarter. Saratoga Research & Investment Management now owns 685,770 shares of the footwear maker’s stock valued at $35,557,000 after acquiring an additional 13,169 shares during the period. 62.78% of the stock is owned by institutional investors.
Nike Inc (NYSE:NKE) opened at $64.79 on Friday. Nike Inc has a 52 week low of $50.35 and a 52 week high of $65.07. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $105,689.83, a price-to-earnings ratio of 27.57, a P/E/G ratio of 3.03 and a beta of 0.64.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a $0.20 dividend. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, December 1st. Nike’s dividend payout ratio is presently 34.04%.
A number of research analysts have issued reports on NKE shares. Morgan Stanley reissued a “buy” rating and issued a $64.00 price target (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price for the company in a research note on Wednesday, September 6th. Telsey Advisory Group reduced their target price on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Argus raised Nike from a “hold” rating to a “buy” rating and upped their target price for the stock from $50.35 to $64.46 in a research note on Thursday. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set a $55.00 target price (down from $56.00) on shares of Nike in a research note on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $60.67.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,441,376. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on 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 owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
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Nike Company Profile
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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