Fagan Associates Inc. lifted its stake in Nike Inc (NYSE:NKE) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 79,161 shares of the footwear maker’s stock after buying an additional 1,593 shares during the quarter. Nike makes up about 2.0% of Fagan Associates Inc.’s investment portfolio, making the stock its 13th largest position. Fagan Associates Inc.’s holdings in Nike were worth $4,912,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in Nike by 4,252.6% during the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after purchasing an additional 16,237,557 shares in the last quarter. Capital World Investors raised its stake in Nike by 58.7% during the second quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares in the last quarter. Harding Loevner LP raised its stake in Nike by 97.1% during the third quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after purchasing an additional 5,987,728 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in Nike during the second quarter valued at $226,588,000. Finally, Alliancebernstein L.P. raised its stake in Nike by 25.5% during the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after purchasing an additional 3,033,280 shares in the last quarter. 65.76% of the stock is currently owned by hedge funds and other institutional investors.
NKE has been the topic of several recent analyst reports. Citigroup reissued a “buy” rating and issued a $78.00 target price (up previously from $74.00) on shares of Nike in a research note on Wednesday, January 31st. Susquehanna Bancshares reissued a “hold” rating and issued a $57.00 target price on shares of Nike in a research note on Wednesday, December 13th. DA Davidson increased their target price on shares of Nike from $68.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Buckingham Research initiated coverage on shares of Nike in a research note on Saturday, January 6th. They issued a “buy” rating and a $72.00 target price on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $66.10.
Nike Inc (NKE) traded up $0.03 during trading hours on Wednesday, hitting $66.20. 6,456,979 shares of the stock were exchanged, compared to its average volume of 7,980,000. Nike Inc has a twelve month low of $50.35 and a twelve month high of $70.25. The company has a market cap of $108,010.00, a PE ratio of 28.66, a P/E/G ratio of 3.02 and a beta of 0.68. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. equities analysts expect that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s dividend payout ratio is currently 34.63%.
In related news, insider Eric D. Sprunk sold 226,040 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the transaction, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,511,120. The disclosure for this sale can be found here. Insiders sold a total of 1,057,896 shares of company stock worth $68,424,217 over the last 90 days. Company insiders own 3.90% of the company’s stock.
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.
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.