Violich Capital Management Inc. cut its holdings in Nike Inc (NYSE:NKE) by 1.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,917 shares of the footwear maker’s stock after selling 1,730 shares during the quarter. Nike comprises 1.9% of Violich Capital Management Inc.’s holdings, making the stock its 16th largest position. Violich Capital Management Inc.’s holdings in Nike were worth $8,465,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Xact Kapitalforvaltning AB lifted its holdings in Nike by 2.7% in the second quarter. Xact Kapitalforvaltning AB now owns 251,524 shares of the footwear maker’s stock valued at $20,041,000 after buying an additional 6,498 shares during the period. Cornerstone Advisors Inc. lifted its holdings in Nike by 17.5% in the second quarter. Cornerstone Advisors Inc. now owns 5,623 shares of the footwear maker’s stock valued at $448,000 after buying an additional 837 shares during the period. GWM Advisors LLC acquired a new position in Nike in the second quarter valued at approximately $521,000. Chicago Capital LLC acquired a new position in Nike in the second quarter valued at approximately $724,000. Finally, Round Table Services LLC acquired a new position in Nike in the second quarter valued at approximately $229,000. Institutional investors own 64.50% of the company’s stock.
Several equities research analysts have weighed in on the stock. Wedbush increased their target price on shares of Nike from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Monday, September 10th. Wells Fargo & Co set a $82.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Monday, September 10th. Morgan Stanley set a $103.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, September 25th. Oppenheimer upgraded shares of Nike from a “market perform” rating to an “outperform” rating and set a $90.00 target price on the stock in a report on Thursday, October 18th. Finally, HSBC reiterated a “neutral” rating and issued a $92.00 target price on shares of Nike in a report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $85.63.
In related news, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total value of $1,445,000.00. Following the completion of the transaction, the executive vice president now owns 104,737 shares of the company’s stock, valued at $8,902,645. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the transaction, the director now directly owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $4,219,350. 3.90% of the stock is currently owned by company insiders.
Shares of NYSE:NKE opened at $74.74 on Friday. Nike Inc has a 12 month low of $57.98 and a 12 month high of $86.04. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The firm has a market cap of $118.70 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.34 and a beta of 0.77.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same period last year, the business posted $0.57 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Research analysts predict that Nike Inc will post 2.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Nike’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, November 30th. Nike’s dividend payout ratio (DPR) is presently 33.06%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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