Profund Advisors LLC boosted its stake in Nike Inc (NYSE:NKE) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,904 shares of the footwear maker’s stock after acquiring an additional 767 shares during the period. Profund Advisors LLC’s holdings in Nike were worth $3,030,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in NKE. Bridges Investment Management Inc. boosted its stake in Nike by 4.7% in the 4th quarter. Bridges Investment Management Inc. now owns 51,069 shares of the footwear maker’s stock worth $5,174,000 after purchasing an additional 2,288 shares in the last quarter. Great Lakes Retirement Inc. purchased a new stake in shares of Nike during the 4th quarter valued at about $586,000. IHT Wealth Management LLC grew its stake in shares of Nike by 17.8% during the 4th quarter. IHT Wealth Management LLC now owns 9,498 shares of the footwear maker’s stock valued at $962,000 after acquiring an additional 1,434 shares during the period. Fosun International Ltd grew its stake in shares of Nike by 27.9% during the 4th quarter. Fosun International Ltd now owns 24,387 shares of the footwear maker’s stock valued at $2,477,000 after acquiring an additional 5,320 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in shares of Nike by 38.4% during the 4th quarter. Belpointe Asset Management LLC now owns 10,422 shares of the footwear maker’s stock valued at $1,056,000 after acquiring an additional 2,890 shares during the period. Institutional investors and hedge funds own 65.40% of the company’s stock.
Several research analysts have weighed in on the company. Wells Fargo & Co dropped their price target on Nike from $99.00 to $87.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. JPMorgan Chase & Co. increased their price target on Nike from $75.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday. Goldman Sachs Group restated a “buy” rating and set a $102.00 price target on shares of Nike in a report on Wednesday. HSBC lowered Nike from a “buy” rating to a “hold” rating and set a $112.00 target price on the stock. in a research note on Wednesday, February 26th. They noted that the move was a valuation call. Finally, Raymond James cut their price target on Nike from $110.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $97.79.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.19. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.56 billion. Nike had a net margin of 10.46% and a return on equity of 51.28%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 earnings per share. On average, sell-side analysts predict that Nike Inc will post 2.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $0.245 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.98 dividend on an annualized basis and a yield of 1.16%. Nike’s payout ratio is presently 39.36%.
In other news, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $101.26, for a total value of $11,138,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 16,500 shares of Nike stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $101.54, for a total transaction of $1,675,410.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,916 shares of company stock worth $27,686,864. Insiders own 3.80% of the company’s stock.
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.
Featured Article: 52-Week High/Low Prices For Stock Selection
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.