Orbis Investment Management U.S. LLC boosted its holdings in Nike (NYSE:NKE) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,508 shares of the footwear maker’s stock after purchasing an additional 8,893 shares during the quarter. Nike accounts for about 5.8% of Orbis Investment Management U.S. LLC’s portfolio, making the stock its 5th largest holding. Orbis Investment Management U.S. LLC’s holdings in Nike were worth $8,539,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Field & Main Bank bought a new position in Nike in the 4th quarter valued at about $100,000. Willingdon Wealth Management bought a new position in Nike in the 3rd quarter valued at about $114,000. Pinnacle Wealth Planning Services Inc. bought a new position in Nike in the 4th quarter valued at about $116,000. SeaCrest Wealth Management LLC bought a new position in Nike in the 4th quarter valued at about $128,000. Finally, First Dallas Securities Inc. bought a new position in Nike in the 4th quarter valued at about $128,000. Institutional investors and hedge funds own 65.69% of the company’s stock.
Several research firms have commented on NKE. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 target price on shares of Nike in a report on Friday, December 22nd. ValuEngine raised shares of Nike from a “hold” rating to a “buy” rating in a report on Tuesday, April 3rd. Barclays set a $75.00 price target on shares of Nike and gave the company a “buy” rating in a report on Friday, March 23rd. Canaccord Genuity set a $62.00 price target on shares of Nike and gave the company a “hold” rating in a report on Sunday. Finally, Macquarie set a $72.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday, January 11th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $68.55.
Shares of Nike stock traded up $0.94 during trading on Thursday, reaching $67.77. 5,144,778 shares of the company traded hands, compared to its average volume of 8,131,839. The company has a market capitalization of $109,004.91, a PE ratio of 27.00, a PEG ratio of 2.83 and a beta of 0.65. The company has a quick ratio of 1.73, a current ratio of 2.66 and a debt-to-equity ratio of 0.35. Nike has a 1-year low of $50.35 and a 1-year high of $70.25.
Nike (NYSE:NKE) last posted its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The firm had revenue of $8.98 billion during the quarter, compared to analyst estimates of $8.85 billion. During the same quarter in the prior year, the business posted $0.68 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. sell-side analysts expect that Nike will post 2.33 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Monday, March 5th were paid a $0.20 dividend. The ex-dividend date was Friday, March 2nd. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. Nike’s payout ratio is 31.87%.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $114,641,520. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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