Nike Inc (NKE) Holdings Decreased by North Star Asset Management Inc.
North Star Asset Management Inc. decreased its stake in shares of Nike Inc (NYSE:NKE) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,732 shares of the footwear maker’s stock after selling 4,780 shares during the quarter. North Star Asset Management Inc.’s holdings in Nike were worth $3,162,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of NKE. Fiduciary Trust Co. boosted its stake in shares of Nike by 4.9% during the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after acquiring an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. boosted its stake in shares of Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after acquiring an additional 23,450 shares during the period. Royal Bank of Scotland Group PLC boosted its stake in shares of Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after acquiring an additional 12,201 shares during the period. Great Lakes Advisors LLC boosted its stake in shares of Nike by 4.3% during the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after acquiring an additional 4,030 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in shares of Nike by 20.0% during the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after acquiring an additional 17,285 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on NKE shares. Jefferies Group downgraded Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price for the company. in a research note on Monday, September 4th. Goldman Sachs Group downgraded Nike from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $52.30 to $54.00 in a research note on Thursday, October 19th. Telsey Advisory Group reduced their target price on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $60.67.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.73 EPS. equities research analysts expect that Nike Inc will post 2.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.23%. Nike’s payout ratio is currently 34.04%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,441,376. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
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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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