Nan Shan Life Insurance Co. Ltd. lowered its holdings in Nike Inc (NYSE:NKE) by 40.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 83,000 shares of the footwear maker’s stock after selling 55,893 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Nike were worth $6,867,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Firestone Capital Management bought a new position in shares of Nike during the 4th quarter worth approximately $25,000. Sowa Financial Group Inc. purchased a new stake in shares of Nike in the 4th quarter valued at $27,000. Kessler Investment Group LLC purchased a new stake in shares of Nike in the 1st quarter valued at $27,000. Sugarloaf Wealth Management LLC boosted its holdings in Nike by 68.9% during the first quarter. Sugarloaf Wealth Management LLC now owns 402 shares of the footwear maker’s stock worth $33,000 after buying an additional 164 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Nike by 100.5% during the first quarter. Benjamin Edwards Inc. now owns 399 shares of the footwear maker’s stock worth $33,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 65.08% of the company’s stock.
A number of brokerages recently issued reports on NKE. BTIG Research began coverage on shares of Nike in a report on Tuesday, April 28th. They set a “buy” rating and a $108.00 price target on the stock. Barclays reissued a “buy” rating and set a $106.00 price target on shares of Nike in a report on Tuesday, March 10th. Telsey Advisory Group increased their price target on shares of Nike from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Raymond James reduced their price objective on shares of Nike from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Finally, HSBC restated a “neutral” rating and set a $96.00 price objective on shares of Nike in a research report on Thursday, April 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating and twenty-eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $98.18.
NKE stock traded up $0.03 during mid-day trading on Friday, hitting $94.29. 2,016,111 shares of the company were exchanged, compared to its average volume of 6,607,220. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $144.54 billion, a P/E ratio of 34.73, a PEG ratio of 2.88 and a beta of 0.75. The business has a fifty day simple moving average of $86.79 and a 200-day simple moving average of $92.40. Nike Inc has a 12-month low of $60.00 and a 12-month high of $105.62.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.19. The company 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 51.49%. Nike’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. Research analysts predict that Nike Inc will post 2.64 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, May 29th. Nike’s dividend payout ratio (DPR) is presently 39.36%.
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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