Nike Inc (NKE) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its position in Nike Inc (NYSE:NKE) by 1.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 261,739 shares of the footwear maker’s stock after purchasing an additional 3,418 shares during the period. Confluence Investment Management LLC’s holdings in Nike were worth $22,041,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Standard Life Aberdeen plc lifted its position in shares of Nike by 10.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 403,034 shares of the footwear maker’s stock valued at $34,145,000 after acquiring an additional 37,643 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in shares of Nike during the 3rd quarter valued at $847,000. Kentucky Retirement Systems acquired a new stake in shares of Nike during the 3rd quarter valued at $4,851,000. Teachers Advisors LLC lifted its holdings in shares of Nike by 3.2% in the third quarter. Teachers Advisors LLC now owns 3,379,948 shares of the footwear maker’s stock valued at $286,349,000 after purchasing an additional 104,566 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of Nike by 3.5% in the third quarter. TIAA CREF Investment Management LLC now owns 8,240,453 shares of the footwear maker’s stock valued at $698,131,000 after purchasing an additional 279,655 shares in the last quarter. Hedge funds and other institutional investors own 65.62% of the company’s stock.

NYSE NKE opened at $89.20 on Friday. Nike Inc has a 1-year low of $64.99 and a 1-year high of $90.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.43 and a current ratio of 2.17. The firm has a market capitalization of $140.20 billion, a PE ratio of 36.86, a P/E/G ratio of 2.61 and a beta of 0.67.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. Nike had a net margin of 10.79% and a return on equity of 45.78%. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business posted $0.68 earnings per share. Nike’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Nike Inc will post 2.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, March 1st. Nike’s payout ratio is 36.36%.

NKE has been the subject of a number of research analyst reports. Morgan Stanley set a $103.00 target price on Nike and gave the company a “buy” rating in a report on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $96.00 target price 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 report 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 report on Friday, February 8th. Finally, Zacks Investment Research lowered Nike from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the stock. Nike presently has an average rating of “Buy” and a consensus price target of $87.10.

In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the transaction, the chairman now directly owns 1,539,963 shares of the company’s stock, valued at $126,276,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The disclosure for this sale can be found here. Insiders have sold 316,504 shares of company stock worth $26,620,816 over the last three months. Company insiders own 3.90% of the company’s stock.

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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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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