Edge Wealth Management LLC reduced its stake in shares of Nike Inc (NYSE:NKE) by 75.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 726 shares of the footwear maker’s stock after selling 2,199 shares during the quarter. Edge Wealth Management LLC’s holdings in Nike were worth $61,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its stake in shares of 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 worth $476,000 after purchasing an additional 34,749,961 shares during the last quarter. Norges Bank bought a new stake in shares of Nike in the fourth quarter worth about $892,899,000. BlackRock Inc. grew its stake in shares of Nike by 4.3% in the fourth quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock worth $6,395,928,000 after purchasing an additional 3,592,186 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Nike in the fourth quarter worth about $224,658,000. Finally, AQR Capital Management LLC grew its stake in shares of Nike by 352.5% in the third quarter. AQR Capital Management LLC now owns 3,839,908 shares of the footwear maker’s stock worth $325,317,000 after purchasing an additional 2,991,299 shares during the last quarter. 65.62% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders have sold 576,500 shares of company stock valued at $46,807,665 over the last quarter. Company insiders own 3.90% of the company’s stock.
NKE has been the topic of several recent analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $95.00 target price on shares of Nike in a research note on Monday, December 17th. Guggenheim restated a “buy” rating and issued a $90.00 price objective on shares of Nike in a report on Friday, December 21st. UBS Group raised their price objective on shares of Nike from $77.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, December 21st. JPMorgan Chase & Co. upgraded shares of Nike from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Friday, December 21st. Finally, Pivotal Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Friday, December 21st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $87.10.
NKE stock opened at $86.83 on Tuesday. Nike Inc has a 52-week low of $64.99 and a 52-week high of $88.59. The company has a market cap of $135.55 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.59 and a beta of 0.67. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm had revenue of $9.61 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the business earned $0.68 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that Nike Inc will post 2.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. 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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