Perkins Coie Trust Co boosted its position in Nike Inc (NYSE:NKE) by 763.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,703 shares of the footwear maker’s stock after acquiring an additional 13,000 shares during the period. Perkins Coie Trust Co’s holdings in Nike were worth $1,381,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in NKE. Thor Advisors LLC purchased a new position in Nike during the 1st quarter valued at about $26,000. Hexavest Inc. bought a new stake in Nike during the second quarter valued at approximately $30,000. Litman Gregory Asset Management LLC bought a new stake in Nike during the second quarter valued at approximately $31,000. LFA Lugano Financial Advisors SA boosted its position in shares of Nike by 43.1% in the second quarter. LFA Lugano Financial Advisors SA now owns 465 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 140 shares during the period. Finally, Lipe & Dalton bought a new position in shares of Nike in the second quarter worth approximately $50,000. 65.04% of the stock is currently owned by institutional investors and hedge funds.
In other Nike news, CEO Mark G. Parker sold 165,000 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $93.42, for a total value of $15,414,300.00. Following the transaction, the chief executive officer now owns 2,054,511 shares in the company, valued at $191,932,417.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total value of $9,378,600.00. The disclosure for this sale can be found here. Insiders sold a total of 505,579 shares of company stock worth $45,961,980 over the last 90 days. Insiders own 3.80% of the company’s stock.
Shares of NKE traded up $0.89 during mid-day trading on Friday, hitting $93.89. The stock had a trading volume of 3,161,545 shares, compared to its average volume of 7,122,954. The company has a market cap of $143.76 billion, a PE ratio of 37.71, a PEG ratio of 2.44 and a beta of 0.85. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $94.75. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $87.83 and its two-hundred day simple moving average is $85.32.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.15. Nike had a return on equity of 47.92% and a net margin of 10.81%. The firm had revenue of $10.66 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts expect that Nike Inc will post 2.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Friday, August 30th. Nike’s payout ratio is 35.34%.
Several equities analysts have recently commented on NKE shares. Goldman Sachs Group set a $95.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Macquarie set a $89.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Friday, June 28th. Daiwa Capital Markets set a $91.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Friday, September 27th. Guggenheim increased their target price on shares of Nike from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Needham & Company LLC increased their target price on shares of Nike from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $95.61.
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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