Prio Wealth Limited Partnership increased its stake in Nike Inc (NYSE:NKE) by 0.6% during the first quarter, HoldingsChannel.com reports. The fund owned 128,656 shares of the footwear maker’s stock after buying an additional 734 shares during the period. Prio Wealth Limited Partnership’s holdings in Nike were worth $10,834,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of NKE. Thrivent Financial for Lutherans increased its holdings in shares of Nike by 42.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock valued at $158,219,000 after acquiring an additional 635,410 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Nike during the first quarter valued at approximately $202,000. WealthTrust Fairport LLC increased its holdings in shares of Nike by 2.7% during the fourth quarter. WealthTrust Fairport LLC now owns 60,157 shares of the footwear maker’s stock valued at $4,460,000 after acquiring an additional 1,604 shares in the last quarter. Tiemann Investment Advisors LLC increased its holdings in shares of Nike by 2.4% during the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after acquiring an additional 125 shares in the last quarter. Finally, Brinker Capital Inc. increased its holdings in shares of Nike by 4.1% during the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock valued at $6,375,000 after acquiring an additional 3,400 shares in the last quarter. 66.17% of the stock is currently owned by institutional investors.
Shares of Nike stock opened at $82.16 on Friday. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00. The firm has a market cap of $129.13 billion, a P/E ratio of 33.95, a P/E/G ratio of 2.52 and a beta of 0.67. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Nike’s revenue was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Nike Inc will post 2.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 1.07%. Nike’s dividend payout ratio (DPR) is currently 36.36%.
In other Nike news, EVP Monique S. Matheson sold 16,500 shares of the business’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 legal filing with the SEC, which is available at this link. Also, insider Eric D. Sprunk sold 40,004 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was 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. Insiders have sold 166,504 shares of company stock valued at $14,320,816 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded Nike from a “hold” rating to a “sell” rating in a report on Thursday. JPMorgan Chase & Co. restated a “buy” rating and set a $90.00 price objective on shares of Nike in a report on Friday, April 12th. Citigroup assumed coverage on Nike in a report on Wednesday, April 10th. They set a “buy” rating and a $100.00 price objective for the company. Macquarie set a $96.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Piper Jaffray Companies set a $93.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $87.10.
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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