Ipswich Investment Management Co. Inc. lessened its stake in shares of Nike Inc (NYSE:NKE) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,299 shares of the footwear maker’s stock after selling 555 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Nike were worth $1,625,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Next Capital Management LLC acquired a new position in Nike in the fourth quarter worth approximately $26,000. Gemmer Asset Management LLC grew its position in Nike by 54.2% in the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Clarfeld Financial Advisors LLC acquired a new position in Nike in the fourth quarter worth approximately $34,000. Acima Private Wealth LLC acquired a new position in Nike in the fourth quarter worth approximately $39,000. Finally, Proffitt & Goodson Inc. acquired a new position in Nike in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 65.78% of the company’s stock.
In other news, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric D. Sprunk sold 40,004 shares of Nike stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,504 shares of company stock worth $14,320,816. Insiders own 3.90% of the company’s stock.
Shares of NYSE:NKE traded up $0.97 on Friday, hitting $83.95. 5,444,196 shares of the company were exchanged, compared to its average volume of 6,696,908. Nike Inc has a one year low of $66.53 and a one 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 company has a market cap of $130.42 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 2.50 and a beta of 0.67.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. Equities analysts predict that Nike Inc will post 2.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.05%. Nike’s payout ratio is 36.36%.
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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