Davidson & Garrard Inc. Sells 2,090 Shares of Nike Inc (NKE)

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.

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. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the prior year, the company posted $0.50 EPS. The business’s revenue was up 4.6% on a year-over-year basis. equities analysts predict that Nike Inc will post 2.25 earnings per share for the current year.

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 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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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