Atlanta Capital Management Co. L L C trimmed its stake in Nike Inc (NYSE:NKE) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,486 shares of the footwear maker’s stock after selling 4,080 shares during the quarter. Atlanta Capital Management Co. L L C’s holdings in Nike were worth $25,540,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its stake in Nike by 6,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 35,283,152 shares of the footwear maker’s stock valued at $476,000 after purchasing an additional 34,749,961 shares during the last quarter. BlackRock Inc. increased its stake in Nike by 4.3% in the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after purchasing an additional 3,592,186 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Nike in the fourth quarter valued at $224,658,000. AQR Capital Management LLC increased its stake in Nike by 352.5% in the third quarter. AQR Capital Management LLC now owns 3,839,908 shares of the footwear maker’s stock valued at $325,317,000 after purchasing an additional 2,991,299 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in Nike by 2,572.6% in the third quarter. Putnam Investments LLC now owns 1,791,717 shares of the footwear maker’s stock valued at $151,794,000 after purchasing an additional 1,724,676 shares during the last quarter. 64.85% of the stock is owned by institutional investors.
Several research firms recently commented on NKE. Credit Suisse Group set a $90.00 target price on Nike and gave the company a “buy” rating in a research note on Wednesday, January 2nd. Macquarie set a $98.00 price target on Nike and gave the company a “buy” rating in a research report on Tuesday, December 4th. UBS Group set a $78.00 price target on Nike and gave the company a “neutral” rating in a research report on Thursday, December 27th. Wells Fargo & Co set a $82.00 price target on Nike and gave the company a “neutral” rating in a research report on Monday, November 19th. Finally, Robert W. Baird reissued a “buy” rating and set a $94.00 price target on shares of Nike in a research report on Monday, November 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $84.59.
In related news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Wednesday, January 16th. The stock was sold at an average price of $78.00, for a total value of $11,700,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares of the company’s stock, valued at $131,653,314. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Insiders sold 800,000 shares of company stock valued at $61,862,000 in the last ninety days. Company insiders own 3.90% of the company’s stock.
Shares of NYSE NKE opened at $86.80 on Monday. Nike Inc has a 1-year low of $63.21 and a 1-year high of $87.99. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $136.72 billion, a PE ratio of 35.87, a P/E/G ratio of 2.64 and a beta of 0.68.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Nike Inc will post 2.63 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 1st. Nike’s payout ratio is 36.36%.
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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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