First Mercantile Trust Co. Boosts Stock Position in Nike Inc (NYSE:NKE)

First Mercantile Trust Co. boosted its holdings in shares of Nike Inc (NYSE:NKE) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,088 shares of the footwear maker’s stock after acquiring an additional 2,387 shares during the quarter. Nike accounts for 0.4% of First Mercantile Trust Co.’s portfolio, making the stock its 29th biggest holding. First Mercantile Trust Co.’s holdings in Nike were worth $2,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Solstein Capital LLC purchased a new stake in shares of Nike in the 4th quarter worth $236,000. 1832 Asset Management L.P. lifted its holdings in shares of Nike by 81.7% in the 4th quarter. 1832 Asset Management L.P. now owns 4,485,657 shares of the footwear maker’s stock worth $454,422,000 after buying an additional 2,016,633 shares during the period. Fosun International Ltd lifted its holdings in shares of Nike by 27.9% in the 4th quarter. Fosun International Ltd now owns 24,387 shares of the footwear maker’s stock worth $2,477,000 after buying an additional 5,320 shares during the period. Ascent Wealth Partners LLC lifted its holdings in shares of Nike by 0.4% in the 4th quarter. Ascent Wealth Partners LLC now owns 25,893 shares of the footwear maker’s stock worth $2,624,000 after buying an additional 114 shares during the period. Finally, IndexIQ Advisors LLC purchased a new stake in shares of Nike in the 4th quarter worth $43,000. Institutional investors own 64.53% of the company’s stock.

Shares of NKE stock traded down $1.13 during mid-day trading on Thursday, reaching $98.74. The stock had a trading volume of 571,063 shares, compared to its average volume of 6,453,455. The business’s fifty day moving average is $88.54 and its 200-day moving average is $92.55. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. The firm has a market cap of $150.25 billion, a price-to-earnings ratio of 36.77, a PEG ratio of 2.99 and a beta of 0.75. Nike Inc has a 1-year low of $60.00 and a 1-year high of $105.62.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The business had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.56 billion. Nike had a return on equity of 51.49% and a net margin of 10.46%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. On average, analysts forecast that Nike Inc will post 2.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s dividend payout ratio is presently 39.36%.

NKE has been the subject of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 target price on shares of Nike in a report on Thursday, February 6th. Goldman Sachs Group set a $102.00 target price on Nike and gave the stock a “buy” rating in a report on Thursday, April 23rd. Pivotal Research lowered their target price on Nike from $117.00 to $78.00 and set a “buy” rating for the company in a report on Monday, March 23rd. BTIG Research started coverage on Nike in a report on Tuesday, April 28th. They issued a “buy” rating and a $108.00 target price for the company. Finally, Deutsche Bank reissued a “neutral” rating and issued a $84.00 price target on shares of Nike in a research report on Wednesday, April 29th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-eight have issued a buy rating to the stock. Nike has an average rating of “Buy” and an average target price of $98.18.

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Thursday, March 26th. The shares were acquired at an average cost of $84.22 per share, with a total value of $210,550.00. Following the completion of the acquisition, the director now owns 11,851 shares of the company’s stock, valued at $998,091.22. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Hilary K. Krane sold 11,000 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $90.00, for a total value of $990,000.00. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by corporate insiders.

About Nike

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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