Sterling Investment Advisors Ltd. trimmed its position in shares of Nike Inc (NYSE:NKE) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,527 shares of the footwear maker’s stock after selling 1,848 shares during the period. Nike comprises 1.1% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 24th largest position. Sterling Investment Advisors Ltd.’s holdings in Nike were worth $2,078,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of NKE. Chevy Chase Trust Holdings Inc. grew its holdings in Nike by 0.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,609,608 shares of the footwear maker’s stock worth $128,253,000 after purchasing an additional 6,256 shares during the period. Riverhead Capital Management LLC grew its holdings in Nike by 7.6% in the second quarter. Riverhead Capital Management LLC now owns 21,710 shares of the footwear maker’s stock worth $1,730,000 after purchasing an additional 1,525 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Nike by 49.3% in the second quarter. Oregon Public Employees Retirement Fund now owns 531,637 shares of the footwear maker’s stock worth $42,361,000 after purchasing an additional 175,587 shares during the period. Envestnet Asset Management Inc. grew its holdings in Nike by 362.6% in the second quarter. Envestnet Asset Management Inc. now owns 684,436 shares of the footwear maker’s stock worth $54,536,000 after purchasing an additional 536,468 shares during the period. Finally, Calamos Wealth Management LLC purchased a new stake in Nike in the third quarter worth about $773,000. 64.72% of the stock is owned by hedge funds and other institutional investors.
Shares of NKE stock opened at $72.40 on Friday. Nike Inc has a 12-month low of $58.54 and a 12-month high of $86.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. The company has a market capitalization of $114.93 billion, a P/E ratio of 29.92, a P/E/G ratio of 2.26 and a beta of 0.77.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a $0.22 dividend. The ex-dividend date is Friday, November 30th. This is an increase from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio (DPR) is presently 33.06%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the transaction, the director now directly owns 26,963 shares in the company, valued at $2,293,203.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the completion of the transaction, the executive vice president now owns 104,737 shares in the company, valued at $8,902,645. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $4,219,350 over the last quarter. Insiders own 3.90% of the company’s stock.
NKE has been the topic of a number of recent analyst reports. HSBC set a $92.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday, September 6th. Robert W. Baird reiterated a “buy” rating and set a $90.00 price target on shares of Nike in a report on Monday, September 3rd. Macquarie set a $87.00 price target on shares of Nike and gave the company a “buy” rating in a report on Tuesday, August 28th. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 price target on shares of Nike in a report on Thursday, August 23rd. Finally, Morgan Stanley reiterated a “buy” rating and set a $88.00 price target on shares of Nike in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.74.
Nike Company Profile
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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