Crawford Investment Counsel Inc. reduced its holdings in shares of Nike Inc (NYSE:NKE) by 4.8% in the third quarter, Holdings Channel reports. The fund owned 26,491 shares of the footwear maker’s stock after selling 1,350 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in Nike were worth $2,244,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Cornerstone Advisors Inc. grew its position in shares of Nike by 17.5% during the second quarter. Cornerstone Advisors Inc. now owns 5,623 shares of the footwear maker’s stock worth $448,000 after purchasing an additional 837 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new stake in Nike during the 2nd quarter valued at about $1,970,000. Alps Advisors Inc. lifted its holdings in shares of Nike by 12.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,937 shares of the footwear maker’s stock valued at $684,000 after buying an additional 1,197 shares during the period. Kaizen Advisory LLC lifted its holdings in shares of Nike by 152.3% in the 2nd quarter. Kaizen Advisory LLC now owns 3,192 shares of the footwear maker’s stock valued at $254,000 after buying an additional 1,927 shares during the period. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Nike by 21.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 132,309 shares of the footwear maker’s stock valued at $10,540,000 after buying an additional 23,375 shares during the period. 64.72% of the stock is owned by hedge funds and other institutional investors.
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 stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the transaction, the director now owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the transaction, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at approximately $8,708,881.55. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $4,219,350 in the last three months. Insiders own 3.90% of the company’s stock.
NYSE NKE opened at $71.49 on Friday. The stock has a market capitalization of $114.93 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77. Nike Inc has a twelve month low of $58.54 and a twelve month high of $86.04. The company has a quick ratio of 1.53, a current ratio of 2.31 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Nike Inc will post 2.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio is presently 33.06%.
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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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