Procyon Advisors LLC boosted its holdings in shares of NIKE, Inc. (NYSE: NKE – Get Rating) by 39.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,766 shares of the footwear maker’s stock after acquiring an additional 498 shares during the quarter. Procyon Advisors LLC’s holdings in NIKE were worth $ 238,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in NKE. BlackRock Inc. raised its holdings in NIKE by 0.3% during the 4th quarter. BlackRock Inc. now owns 89,964,963 shares of the footwear maker’s stock worth $ 14,994,459,000 after purchasing an additional 298,848 shares during the last quarter. State Street Corp boosted its position in NIKE by 3.6% during the 4th quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $ 9,433,251,000 after acquiring an additional 1,969,270 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of NIKE by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 21,444,116 shares of the footwear maker’s stock worth $ 3,564,786,000 after purchasing an additional 601,940 shares in the last quarter. Jennison Associates LLC raised its stake in shares of NIKE by 14.6% during the 4th quarter. Jennison Associates LLC now owns 15,307,214 shares of the footwear maker’s stock worth $ 2,551,253,000 after purchasing an additional 1,944,401 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of NIKE during the 4th quarter worth approximately $ 1,894,686,000. 65.35% of the stock is currently owned by institutional investors.
NKE stock opened at $ 102.78 on Wednesday. The company 50-day simple moving average is $ 115.69 and its 200-day simple moving average is $ 133.54. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64. NIKE, Inc. has a 52-week low of $ 102.48 and a 52-week high of $ 179.10. The firm has a market cap of $ 161.75 billion, a P / E ratio of 27.12, a PEG ratio of 1.95 and a beta of 0.96.
NIKE (NYSE: NKE – Get Rating) last released its quarterly earnings results on Monday, June 27th. The footwear maker reported $ 0.90 earnings per share for the quarter, topping the estimate consensus of $ 0.81 by $ 0.09. NIKE had a net margin of 13.06% and a return on equity of 43.04%. The firm had revenue of $ 12.20 billion during the quarter, compared to the consensus estimate of $ 12.10 billion. During the same quarter in the prior year, the firm earned $ 0.93 EPS. The company revenue for the quarter was down .8% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 3.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Monday, June 6th will be issued a $ 0.305 dividend. The ex-dividend date of this dividend is Friday, June 3rd. This represents a $ 1.22 dividend on an annualized basis and a yield of 1.19%. NIKE’s payout ratio is 32.19%.
In related news, COO Andrew Campion sold 14,203 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $ 120.61, for a total transaction of $ 1,713,023.83. Following the completion of the transaction, the chief operating officer now owns 73,795 shares of the company stock, valued at approximately $ 8,900,414.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $ 110.52, for a total transaction of $ 998,216.64. Following the transaction, the chief financial officer now directly owns 51,581 shares of the company stock, valued at approximately $ 5,700,732.12. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.
NKE has been the subject of several research reports. Wedbush dropped their target price on NIKE from $ 139.00 to $ 130.00 and set an “outperform” rating for the company in a research report on Tuesday. HSBC lowered their target price on NIKE from $ 140.00 to $ 132.00 and set a “hold” rating for the company in a report on Tuesday, June 14th. BMO Capital Markets lowered their target price on NIKE from $ 142.00 to $ 128.00 and set an “outperform” rating for the company in a report on Tuesday. The Goldman Sachs Group set a $ 177.00 price objective on NIKE in a research note on Tuesday, March 22nd. Finally, Barclays reduced their price target on NIKE from $ 161.00 to $ 140.00 and set an “overweight” rating for the company in a research note on Tuesday, June 21st. Seven analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $ 147.73.
NIKE Company Profile: (Get Rating)
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.
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