Psagot Investment House Ltd. raised its stake in Nike Inc (NYSE:NKE) by 452.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,200 shares of the footwear maker’s stock after buying an additional 19,000 shares during the quarter. Psagot Investment House Ltd.’s holdings in Nike were worth $1,720,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its holdings in shares of Nike by 42.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock valued at $158,219,000 after purchasing an additional 635,410 shares during the last quarter. Tiemann Investment Advisors LLC increased its holdings in shares of Nike by 2.4% in the fourth quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 125 shares during the last quarter. Brinker Capital Inc. increased its holdings in shares of Nike by 4.1% in the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock valued at $6,375,000 after purchasing an additional 3,400 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Nike by 14.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 47,918 shares of the footwear maker’s stock valued at $3,552,000 after acquiring an additional 6,157 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its stake in shares of Nike by 11.8% in the fourth quarter. ETRADE Capital Management LLC now owns 11,907 shares of the footwear maker’s stock valued at $883,000 after acquiring an additional 1,259 shares in the last quarter. 65.74% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on NKE. Bank of America upped their price target on shares of Nike from $55.00 to $60.00 and gave the company an “underperform” rating in a research note on Tuesday, March 19th. Credit Suisse Group restated a “buy” rating and issued a $97.00 price target on shares of Nike in a research note on Friday, March 22nd. JPMorgan Chase & Co. upped their price target on shares of Nike from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Goldman Sachs Group set a $85.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity set a $96.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the stock. Nike has an average rating of “Buy” and a consensus price target of $87.10.
Shares of NKE traded down $0.83 during trading hours on Thursday, reaching $87.56. The stock had a trading volume of 6,812,350 shares, compared to its average volume of 6,499,233. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39. The stock has a market cap of $138.82 billion, a P/E ratio of 36.18, a P/E/G ratio of 2.63 and a beta of 0.67.
Nike (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The company had revenue of $9.61 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the business earned $0.68 EPS. Nike’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, analysts expect that Nike Inc will post 2.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, March 1st. Nike’s dividend payout ratio (DPR) is presently 36.36%.
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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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