Douglas Lane & Associates LLC decreased its stake in Nike Inc (NYSE:NKE) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,159 shares of the footwear maker’s stock after selling 200 shares during the period. Douglas Lane & Associates LLC’s holdings in Nike were worth $399,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of NKE. Windward Capital Management Co. CA increased its position in Nike by 0.4% in the first quarter. Windward Capital Management Co. CA now owns 402,011 shares of the footwear maker’s stock valued at $22,404,000 after buying an additional 1,494 shares during the period. TRUE Private Wealth Advisors increased its position in Nike by 19.6% in the first quarter. TRUE Private Wealth Advisors now owns 18,317 shares of the footwear maker’s stock valued at $1,009,000 after buying an additional 3,000 shares during the period. Hexavest Inc. increased its position in Nike by 7.3% in the first quarter. Hexavest Inc. now owns 862,893 shares of the footwear maker’s stock valued at $48,089,000 after buying an additional 58,427 shares during the period. State of Alaska Department of Revenue acquired a new position in Nike during the first quarter valued at approximately $169,000. Finally, Cambridge Advisors Inc. increased its position in Nike by 0.3% in the first quarter. Cambridge Advisors Inc. now owns 24,330 shares of the footwear maker’s stock valued at $1,356,000 after buying an additional 83 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
Nike (NYSE:NKE) last released its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 31.70% and a net margin of 11.60%. The firm had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the previous year, the firm posted $0.55 EPS. Nike’s revenue for the quarter was up 5.0% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $0.72 annualized dividend and a yield of 1.39%. Nike’s payout ratio is 31.72%.
Several research analysts have recently issued reports on NKE shares. Piper Jaffray Companies restated a “neutral” rating and issued a $51.00 target price on shares of Nike in a report on Thursday, March 16th. Credit Suisse Group AG set a $67.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, March 14th. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $60.36 target price on the stock. in a report on Monday, March 27th. Barclays PLC restated an “overweight” rating and issued a $65.00 target price on shares of Nike in a report on Wednesday, March 22nd. Finally, FBR & Co reiterated a “market perform” rating and issued a $53.00 price target on shares of Nike in a report on Wednesday, March 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $60.93.
In other news, CAO Hilary K. Krane sold 65,000 shares of the company’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the completion of the transaction, the chief accounting officer now directly owns 270,795 shares of the company’s stock, valued at approximately $15,164,520. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction dated Friday, March 24th. The stock was sold at an average price of $55.67, for a total value of $2,783,500.00. Following the transaction, the insider now directly owns 300,108 shares of the company’s stock, valued at $16,707,012.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 379,000 shares of company stock valued at $21,213,800. Insiders own 3.90% of the company’s stock.
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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