London Co. of Virginia trimmed its stake in shares of Nike Inc (NYSE:NKE) by 85.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,227 shares of the footwear maker’s stock after selling 1,034,385 shares during the period. London Co. of Virginia’s holdings in Nike were worth $13,362,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. Next Capital Management LLC acquired a new position in Nike in the 4th quarter worth about $26,000. Gemmer Asset Management LLC increased its holdings in shares of Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Acima Private Wealth LLC acquired a new position in shares of Nike during the 4th quarter valued at about $39,000. Proffitt & Goodson Inc. acquired a new position in shares of Nike during the 4th quarter valued at about $44,000. Finally, Athena Capital Advisors LLC acquired a new position in shares of Nike during the 4th quarter valued at about $56,000. 65.62% of the stock is owned by institutional investors and hedge funds.
NKE has been the topic of a number of analyst reports. Morgan Stanley set a $103.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $96.00 price objective on shares of Nike in a report on Friday, March 22nd. Cowen upgraded Nike from a “market perform” rating to an “outperform” rating and increased their target price for the company from $80.00 to $90.00 in a research note on Tuesday, January 22nd. Rowe upgraded Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price for the company in a research note on Friday, February 8th. Finally, Zacks Investment Research downgraded Nike from a “buy” rating to a “hold” rating in a research note on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company. Nike currently has a consensus rating of “Buy” and a consensus price target of $87.10.
Shares of Nike stock traded up $0.59 during midday trading on Monday, hitting $86.83. 4,945,743 shares of the company were exchanged, compared to its average volume of 6,503,353. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43. The company has a market capitalization of $135.72 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.67. Nike Inc has a 52 week low of $64.99 and a 52 week high of $88.59.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The firm had revenue of $9.61 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm posted $0.68 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Nike Inc will post 2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.01%. Nike’s dividend payout ratio is 36.36%.
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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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