Cardan Capital Partners LLC lessened its holdings in shares of Nike Inc (NYSE:NKE) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,617 shares of the footwear maker’s stock after selling 1,428 shares during the period. Nike makes up about 0.9% of Cardan Capital Partners LLC’s portfolio, making the stock its 29th biggest holding. Cardan Capital Partners LLC’s holdings in Nike were worth $5,181,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of NKE. Capital Insight Partners LLC grew its position in shares of Nike by 0.6% during the 4th quarter. Capital Insight Partners LLC now owns 17,905 shares of the footwear maker’s stock valued at $1,814,000 after acquiring an additional 104 shares during the period. Kovack Advisors Inc. grew its position in shares of Nike by 4.1% during the 4th quarter. Kovack Advisors Inc. now owns 2,631 shares of the footwear maker’s stock valued at $267,000 after acquiring an additional 104 shares during the period. Cornerstone Advisors Inc. grew its position in shares of Nike by 2.3% during the 4th quarter. Cornerstone Advisors Inc. now owns 4,734 shares of the footwear maker’s stock valued at $480,000 after acquiring an additional 107 shares during the period. Ascent Wealth Partners LLC grew its position in shares of Nike by 0.4% during the 4th quarter. Ascent Wealth Partners LLC now owns 25,893 shares of the footwear maker’s stock valued at $2,624,000 after acquiring an additional 114 shares during the period. Finally, Coastal Capital Group Inc. grew its position in shares of Nike by 16.6% during the 4th quarter. Coastal Capital Group Inc. now owns 837 shares of the footwear maker’s stock valued at $84,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 65.08% of the company’s stock.
NKE has been the topic of a number of analyst reports. Barclays restated a “buy” rating and set a $106.00 target price on shares of Nike in a research report on Tuesday, March 10th. Wells Fargo & Co upgraded Nike from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $87.00 to $99.00 in a research report on Monday, March 30th. Pivotal Research lowered their price objective on Nike from $117.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating and set a $93.00 price objective on the stock. in a report on Wednesday, March 11th. Finally, Piper Sandler lifted their price objective on Nike from $94.00 to $82.00 in a report on Wednesday, March 25th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $98.18.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 24th. The footwear maker reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.19. The firm had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.56 billion. Nike had a net margin of 10.46% and a return on equity of 51.49%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. As a group, equities research analysts expect that Nike Inc will post 2.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s payout ratio is 39.36%.
In other Nike news, CAO Hilary K. Krane sold 11,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $90.00, for a total value of $990,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Thursday, March 26th. The stock was purchased at an average cost of $84.22 per share, for a total transaction of $210,550.00. Following the transaction, the director now owns 11,851 shares of the company’s stock, valued at $998,091.22. The disclosure for this purchase can be found here. 3.80% of the stock is owned by insiders.
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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