Cobiz Investment Management LLC Has $5,224,000 Stake in Nike Inc. (NKE)
Cobiz Investment Management LLC decreased its position in Nike Inc. (NYSE:NKE) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 99,217 shares of the footwear maker’s stock after selling 925 shares during the period. Cobiz Investment Management LLC’s holdings in Nike were worth $5,224,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Nike by 17.9% in the third quarter. Oregon Public Employees Retirement Fund now owns 330,141 shares of the footwear maker’s stock worth $17,382,000 after buying an additional 50,069 shares in the last quarter. Hills Bank & Trust Co. boosted its position in shares of Nike by 1.1% in the third quarter. Hills Bank & Trust Co. now owns 81,101 shares of the footwear maker’s stock worth $4,270,000 after buying an additional 905 shares in the last quarter. Bristol John W & Co. Inc. NY boosted its position in shares of Nike by 11.7% in the third quarter. Bristol John W & Co. Inc. NY now owns 1,180,295 shares of the footwear maker’s stock worth $62,143,000 after buying an additional 123,212 shares in the last quarter. First American Bank boosted its position in shares of Nike by 48.6% in the third quarter. First American Bank now owns 15,935 shares of the footwear maker’s stock worth $839,000 after buying an additional 5,210 shares in the last quarter. Finally, Deane Retirement Strategies Inc. acquired a new position in shares of Nike during the third quarter worth approximately $2,244,000. Hedge funds and other institutional investors own 62.90% of the company’s stock.
Nike Inc. (NYSE:NKE) traded up 0.35% during mid-day trading on Friday, hitting $51.52. 2,736,767 shares of the company traded hands. The firm has a market capitalization of $85.80 billion, a P/E ratio of 23.25 and a beta of 0.48. Nike Inc. has a one year low of $49.01 and a one year high of $68.19. The firm has a 50 day moving average of $51.17 and a 200 day moving average of $54.68.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The business had revenue of $9.06 billion for the quarter. During the same quarter last year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts expect that Nike Inc. will post $2.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be given a $0.18 dividend. This is a positive change from Nike’s previous quarterly dividend of $0.16. The ex-dividend date is Thursday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.40%. Nike’s payout ratio is currently 28.83%.
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A number of research analysts have recently issued reports on the stock. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $55.62 target price for the company. in a research note on Wednesday, November 16th. Credit Suisse Group AG set a $60.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Friday, November 11th. Barclays PLC reiterated an “overweight” rating and issued a $65.00 target price on shares of Nike in a research note on Friday, November 11th. Brean Capital reiterated a “hold” rating on shares of Nike in a research note on Wednesday, November 9th. Finally, Piper Jaffray Cos. reiterated a “neutral” rating and issued a $53.00 target price on shares of Nike in a research note on Friday, November 4th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $63.43.
In related news, Director John C. Lechleiter acquired 1,000 shares of the stock in a transaction on Friday, September 30th. The shares were acquired at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the transaction, the director now owns 27,560 shares in the company, valued at approximately $1,452,963.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $49.78, for a total transaction of $7,467,000.00. Following the completion of the sale, the chairman now directly owns 1,985,225 shares in the company, valued at approximately $98,824,500.50. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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