Davidson & Garrard Inc. lessened its stake in shares of Nike Inc (NYSE:NKE) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 49,308 shares of the footwear maker’s stock after selling 2,090 shares during the period. Davidson & Garrard Inc.’s holdings in Nike were worth $2,557,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in NKE. Asset Planning Services Ltd. raised its stake in Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Stearns Financial Services Group increased its stake in shares of Nike by 0.4% in the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after purchasing an additional 17 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its stake in shares of Nike by 0.3% in the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after purchasing an additional 41 shares in the last quarter. Buckingham Asset Management LLC increased its stake in shares of Nike by 0.7% in the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after purchasing an additional 45 shares in the last quarter. Finally, Sullivan Bruyette Speros & Blaney LLC increased its stake in shares of Nike by 1.0% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock valued at $357,000 after purchasing an additional 61 shares in the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.
Nike Inc (NKE) opened at $63.49 on Wednesday. The company has a market cap of $103,590.00, a price-to-earnings ratio of 27.48, a P/E/G ratio of 2.83 and a beta of 0.64. Nike Inc has a one year low of $50.35 and a one year high of $65.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is 34.63%.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of the firm’s 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 sale, the executive vice president now directly owns 23,248 shares in the company, valued at approximately $1,511,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold a total of 742,174 shares of company stock valued at $46,006,408 in the last quarter. 3.90% of the stock is currently owned by corporate insiders.
Several research analysts have recently weighed in on NKE shares. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price on the stock in a report on Wednesday, October 4th. Susquehanna Bancshares reiterated a “hold” rating and issued a $57.00 price objective on shares of Nike in a report on Wednesday, December 13th. DA Davidson upped their price objective on Nike from $68.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, December 26th. Canaccord Genuity reissued a “hold” rating and issued a $50.00 target price (down previously from $51.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Instinet reissued a “buy” rating and issued a $62.00 target price (up previously from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-one have issued a buy rating to the company. Nike currently 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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