Ipswich Investment Management Co. Inc. reduced its position in shares of NIKE, Inc. (NYSE: NKE – Get Rating) by 9.1% during the 1st quarter, reports HoldingsChannel. The fund held 14,408 shares of the shoemaker after selling 1,440 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in NIKE were worth $1,939,000 when it last filed with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently changed their holdings in NKE. Gilman Hill Asset Management LLC increased its position in NIKE by 1.5% in the fourth quarter. Gilman Hill Asset Management LLC now owns 4,693 shares of the shoemaker worth $782,000 after buying 70 more shares last quarter. Buffington Mohr McNeal increased his stake in NIKE by 0.7% in the fourth quarter. Buffington Mohr McNeal now owns 9,517 shares of the shoemaker valued at $1,586,000 after acquiring 70 more shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in NIKE by 3.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the shoemaker valued at $382,000 after acquiring 70 additional shares in the last quarter. Resources Management Corp CT ADV increased its stake in NIKE by 0.5% in the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the shoemaker valued at $2,504,000 after acquiring 71 additional shares in the last quarter. Finally, Cavalier Investments LLC increased its stake in NIKE by 0.7% in the fourth quarter. Cavalier Investments LLC now owns 10,217 shares of the shoemaker valued at $1,703,000 after acquiring 72 additional shares in the last quarter. Hedge funds and other institutional investors hold 65.35% of the company’s shares.
NYSE:NKE shares opened at $104.32 on Wednesday. The company’s fifty-day moving average price is $112.96 and its 200-day moving average price is $131.39. The company has a market capitalization of $164.18 billion, a price/earnings ratio of 27.74, a PEG ratio of 2.06 and a beta of 1.00. NIKE, Inc. has a one-year low of $99.53 and a one-year high of $179.10. The company has a debt ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84.
NIKE (NYSE:NKE – Get Rating) last released its quarterly results on Monday, June 27. The shoemaker reported 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 analyst estimates of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The company’s revenue for the quarter was down 0.8% from the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $0.93. As a group, equity research analysts expect NIKE, Inc. to post EPS of 3.93 for the current year.
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. This represents a dividend of $1.22 on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Friday, June 3. NIKE’s payout rate is 32.45%.
In other NIKE news, Director John W. Rogers, Jr. purchased 10,000 NIKE shares in a trade that took place on Thursday, June 30. The shares were purchased at an average price of $102.96 per share, with a total value of $1,029,600.00. Following the acquisition, the administrator now owns 25,681 shares of the company, valued at $2,644,115.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, COO Andrew Campion sold 14,203 shares in a trade on Friday, June 3. The shares were sold at an average price of $120.61, for a total transaction of $1,713,023.83. Following the transaction, the COO now directly owns 73,795 shares of the company, valued at approximately $8,900,414.95. The disclosure of this sale can be found here. 3.70% of the shares are held by company insiders.
A number of research analysts have weighed in on NKE shares. Credit Suisse Group set a target price of $130.00 on NIKE shares in a research note on Wednesday, June 29. Morgan Stanley lowered its price target on NIKE shares from $159.00 to $149.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research note. Sanford C. Bernstein assumed NIKE stock coverage in a Monday, March 14, research note. They set an “outperform” rating and a price target of $160.00 for the stock. Barclays lowered its price target on NIKE shares from $140.00 to $125.00 and set an “overweight” rating on the stock in a Wednesday June 29 research note. 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 research note. Seven investment analysts gave the stock a hold rating and twenty-two gave the company’s stock a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.96.
About NIKE (Get an assessment)
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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