Fred Alger Management Inc. boosted its stake in shares of Nike Inc (NYSE:NKE) by 994.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 905,898 shares of the footwear maker’s stock after buying an additional 823,113 shares during the period. Fred Alger Management Inc.’s holdings in Nike were worth $46,047,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Clarius Group LLC purchased a new position in shares of Nike during the fourth quarter valued at about $111,000. First Command Bank purchased a new position in shares of Nike during the fourth quarter valued at about $128,000. Catalyst Capital Advisors LLC purchased a new position in shares of Nike during the third quarter valued at about $130,000. Bank Hapoalim BM purchased a new position in shares of Nike during the third quarter valued at about $137,000. Finally, CWM LLC raised its position in shares of Nike by 18.1% in the third quarter. CWM LLC now owns 2,631 shares of the footwear maker’s stock valued at $139,000 after buying an additional 404 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.
Nike Inc (NYSE:NKE) opened at 58.68 on Tuesday. The firm has a 50-day moving average price of $55.95 and a 200-day moving average price of $53.43. The company has a market capitalization of $97.08 billion, a P/E ratio of 25.87 and a beta of 0.44. Nike Inc has a 1-year low of $49.01 and a 1-year high of $65.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 6th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, March 2nd. Nike’s dividend payout ratio is 31.72%.
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Several equities analysts have recently issued reports on the company. Credit Suisse Group AG reaffirmed a “buy” rating and set a $60.00 price target on shares of Nike in a research note on Monday, December 19th. Vetr lowered Nike from a “strong-buy” rating to a “buy” rating and set a $57.27 price target on the stock. in a research note on Tuesday, December 20th. Wedbush reaffirmed a “neutral” rating and set a $53.00 price target on shares of Nike in a research note on Wednesday, December 21st. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, December 6th. Finally, JPMorgan Chase & Co. set a $57.00 price target on Nike and gave the company a “buy” rating in a research note on Tuesday, December 27th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $61.61.
In other news, EVP John F. Slusher sold 136,000 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $52.13, for a total value of $7,089,680.00. Following the transaction, the executive vice president now directly owns 225,165 shares of the company’s stock, valued at approximately $11,737,851.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 100,000 shares of the business’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $52.94, for a total value of $5,294,000.00. Following the completion of the transaction, the chairman now directly owns 1,966,235 shares in the company, valued at $104,092,480.90. The disclosure for this sale can be found here. Insiders sold a total of 636,000 shares of company stock worth $33,477,680 over the last three months. 3.90% of the stock is owned by company insiders.
Nike Company 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.
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