Canada Pension Plan Investment Board decreased its stake in shares of Nike Inc (NYSE:NKE) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,995,171 shares of the footwear maker’s stock after selling 85,814 shares during the period. Nike comprises about 0.8% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 27th biggest holding. Canada Pension Plan Investment Board owned about 0.31% of Nike worth $423,191,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of NKE. Fuller & Thaler Asset Management Inc. bought a new position in Nike in the second quarter worth about $104,000. BDO Wealth Advisors LLC lifted its holdings in Nike by 1,044.3% in the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after acquiring an additional 1,274 shares during the last quarter. Stelac Advisory Services LLC bought a new position in Nike in the third quarter worth about $115,000. CSat Investment Advisory L.P. bought a new position in Nike in the second quarter worth about $119,000. Finally, Polaris Greystone Financial Group LLC bought a new position in Nike in the third quarter worth about $119,000. 64.72% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the transaction, the executive vice president now owns 104,737 shares in the company, valued at $8,708,881.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $4,219,350 in the last quarter. Company insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate 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 quarter last year, the business earned $0.57 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side analysts predict that Nike Inc will post 2.62 EPS for the current 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 paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Friday, November 30th. This is a positive change from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio (DPR) is currently 33.06%.
A number of equities analysts have issued reports on NKE shares. Needham & Company LLC reissued a “neutral” rating on shares of Nike in a report on Thursday, September 13th. HSBC set a $92.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Thursday, September 6th. Daiwa Capital Markets set a $85.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Monday, October 1st. Pivotal Research set a $85.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Friday, September 21st. Finally, Oppenheimer raised 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. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $85.74.
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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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