Public Employees Retirement Association of Colorado decreased its holdings in Nike Inc (NYSE:NKE) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,776,670 shares of the footwear maker’s stock after selling 87,290 shares during the period. Public Employees Retirement Association of Colorado owned about 0.11% of Nike worth $92,120,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of NKE. Canada Pension Plan Investment Board boosted its position in Nike by 36.1% during the third quarter. Canada Pension Plan Investment Board now owns 6,975,000 shares of the footwear maker’s stock worth $361,654,000 after purchasing an additional 1,849,100 shares during the period. BP PLC bought a new stake in Nike during the third quarter worth approximately $7,930,000. Zevin Asset Management LLC boosted its position in Nike by 106.3% during the third quarter. Zevin Asset Management LLC now owns 9,900 shares of the footwear maker’s stock worth $513,000 after purchasing an additional 5,100 shares during the period. Gillespie Robinson & Grimm Inc. boosted its position in Nike by 1.9% during the third quarter. Gillespie Robinson & Grimm Inc. now owns 418,707 shares of the footwear maker’s stock worth $21,710,000 after purchasing an additional 7,760 shares during the period. Finally, Heritage Investors Management Corp boosted its position in Nike by 0.8% during the third quarter. Heritage Investors Management Corp now owns 320,960 shares of the footwear maker’s stock worth $16,642,000 after purchasing an additional 2,493 shares during the period. Institutional investors own 62.67% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) traded up $0.38 during mid-day trading on Friday, hitting $64.67. The stock had a trading volume of 5,045,100 shares, compared to its average volume of 9,460,000. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $105,510.00, a PE ratio of 28.00, a PEG ratio of 2.90 and a beta of 0.64. Nike Inc has a 12 month low of $50.35 and a 12 month high of $65.18.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 earnings per share. equities research analysts forecast that Nike Inc will post 2.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were issued a $0.20 dividend. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.24%. Nike’s dividend payout ratio (DPR) is currently 34.63%.
In related news, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the transaction, the chief operating officer now owns 165,591 shares in the company, valued at $10,448,792.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 967,896 shares of company stock worth $60,257,267. 3.90% of the stock is owned by company insiders.
A number of brokerages have issued reports on NKE. B. Riley reaffirmed a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective on shares of Nike in a research report on Friday, December 22nd. Jefferies Group set a $59.00 price objective on Nike and gave the company a “neutral” rating in a research report on Thursday, December 28th. JPMorgan Chase & Co. set a $58.00 price objective on Nike and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. Finally, Barclays set a $71.00 price objective on Nike and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $64.40.
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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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