Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Nike Inc (NYSE:NKE) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 313,385 shares of the footwear maker’s stock after acquiring an additional 1,740 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Nike were worth $16,249,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Comerica Bank increased its stake in shares of Nike by 1.1% in the 3rd quarter. Comerica Bank now owns 634,080 shares of the footwear maker’s stock valued at $35,045,000 after purchasing an additional 7,019 shares during the last quarter. Wellington Shields Capital Management LLC increased its stake in shares of Nike by 9.5% in the 3rd quarter. Wellington Shields Capital Management LLC now owns 41,906 shares of the footwear maker’s stock valued at $2,173,000 after purchasing an additional 3,650 shares during the last quarter. River Wealth Advisors LLC increased its stake in shares of Nike by 29.3% in the 3rd quarter. River Wealth Advisors LLC now owns 5,498 shares of the footwear maker’s stock valued at $285,000 after purchasing an additional 1,246 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Nike by 1,498.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 219,606 shares of the footwear maker’s stock valued at $11,387,000 after purchasing an additional 205,869 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Nike by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 2,331,763 shares of the footwear maker’s stock valued at $120,902,000 after purchasing an additional 36,426 shares during the last quarter. Hedge funds and other institutional investors own 62.67% of the company’s stock.
In related news, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Insiders sold a total of 742,174 shares of company stock worth $46,006,408 over the last three months. 3.90% of the stock is owned by company insiders.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. equities analysts anticipate that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. Nike’s payout ratio is currently 34.63%.
Several brokerages have recently issued reports on NKE. B. Riley reiterated a “neutral” rating on shares of Nike in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price target on shares of Nike in a research note on Friday, December 22nd. Vetr upgraded Nike from a “sell” rating to a “hold” rating and set a $63.22 price target on the stock in a research note on Monday. DA Davidson set a $78.00 price target on Nike and gave the company a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. set a $58.00 price objective on Nike and gave the stock a “neutral” rating in a research report on Tuesday. Three investment 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 stock. Nike presently has an average rating of “Hold” and a consensus price target of $63.78.
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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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