CCLA Investment Management Ltd increased its position in shares of NIKE, Inc. (NYSE: NKE – Get Rating) by 9.7% during the 1st quarter, according to the company in its latest filing with the SEC. The institutional investor held 487,958 shares of the shoemaker after buying an additional 43,340 shares during the quarter. CCLA Investment Management Ltd’s holdings in NIKE were worth $65,690,000 when it last filed with the SEC.
Other institutional investors and hedge funds have also recently changed their positions in the company. Aquire Wealth Advisors LLC acquired a new position in NIKE in Q4 worth $26,000. Retirement Planning Co of New England Inc. acquired a new position in NIKE stock during Q4 worth approximately $26,000. FNY Investment Advisers LLC acquired a new position in NIKE stock during Q1 worth approximately $26,000. Horan Securities Inc. acquired a new position in NIKE stock during Q4 worth approximately $29,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in NIKE in Q4 valued at approximately $31,000. Institutional investors hold 65.35% of the company’s shares.
Insider Buying and Selling at NIKE
In other NIKE news, COO Andrew Campion sold 14,203 NIKE shares in a trade that took place on Friday, June 3. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. As a result of the transaction, the chief operating officer now owns 73,795 shares of the company, valued at $8,900,414.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other NIKE news, COO Andrew Campion sold 14,203 NIKE shares in a trade that took place on Friday, June 3. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. As a result of the transaction, the chief operating officer now owns 73,795 shares of the company, valued at $8,900,414.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CFO Matthew Friend sold 9,032 NIKE shares in a trade that took place on Monday, June 13. The shares were sold at an average price of $110.52, for a total transaction of $998,216.64. Following the sale, the CFO now owns 51,581 shares of the company, valued at approximately $5,700,732.12. The disclosure of this sale can be found here. Insiders sold 72,735 shares of the company valued at $7,944,215 in the past 90 days. 0.40% of the shares are currently held by company insiders.
Analysts set new price targets
Several equity research analysts have recently released reports on the stock. Wells Fargo & Company cut its price target on NIKE shares from $150.00 to $130.00 and set an “overweight” rating for the company in a Tuesday, June 28 research note. Credit Suisse Group set a price target of $130.00 on NIKE shares in a report on Wednesday, June 29. Seaport Res Ptn reduced NIKE shares from a “buy” rating to a “neutral” rating in a Wednesday, June 22 report. Guggenheim lowered its price target on NIKE shares from $160.00 to $155.00 and set a “buy” rating on the stock in a Tuesday, June 28 report. Finally, Telsey Advisory Group lowered its price target on NIKE shares from $140.00 to $130.00 and set an “outperform” rating on the stock in a Tuesday, June 28 report. Nine analysts gave the stock a hold rating and twenty gave the company a buy rating. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $139.60.
Performance of NIKE shares
NKE opened at $107.86 on Thursday. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt ratio of 0.58. The company has a market capitalization of $169.75 billion, a price/earnings ratio of 28.69, a PEG ratio of 2.24 and a beta of 1.00. The company’s 50-day moving average is $109.78 and its 200-day moving average is $125.20. NIKE, Inc. has a 12-month low of $99.53 and a 12-month high of $179.10.
NIKE (NYSE:NKE – Get Rating) last released quarterly earnings data on Monday, June 27. The shoemaker reported earnings per share (EPS) of $0.90 for the quarter, beating analyst consensus estimates of $0.81 by $0.09. The company posted revenue of $12.20 billion for the quarter, versus a consensus estimate of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The company’s revenue fell 0.8% from the same quarter last year. In the same quarter last year, the company posted earnings per share of $0.93. On average, equity research analysts expect NIKE, Inc. to post EPS of 3.91 for the current year.
NIKE announced that its board of directors authorized a stock repurchase program on Monday, June 27 that allows the company to repurchase $18.00 billion in outstanding stock. This repurchase authorization allows the shoemaker to repurchase up to 11% of its inventory through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
NIKE announces dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 1. Shareholders of record on Monday, June 6 received a dividend of $0.305 per share. This represents an annualized dividend of $1.22 and a yield of 1.13%. The ex-dividend date was Friday, June 3. NIKE’s dividend payout ratio is currently 32.45%.
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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-branded products in six categories, including running, NIKE basketball, Jordan brand, football, training and sportswear. It also markets products designed for children, as well as other sports and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball- ball, walking, wrestling and other outdoor activities; and apparel with licensed college and pro team and league logos, as well as athletic apparel.
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