Boston Financial Mangement LLC Sells 2,810 Shares of Nike Inc (NKE)
Boston Financial Mangement LLC cut its stake in shares of Nike Inc (NYSE:NKE) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,733 shares of the footwear maker’s stock after selling 2,810 shares during the quarter. Boston Financial Mangement LLC’s holdings in Nike were worth $5,638,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Asset Planning Services Ltd. grew its holdings in shares of Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares during the last quarter. Atlantic Trust LLC bought a new position in shares of Nike during the second quarter valued at approximately $136,000. Kistler Tiffany Companies LLC grew its holdings in shares of Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares during the last quarter. Howe & Rusling Inc. grew its holdings in shares of Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Nike by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after purchasing an additional 201 shares during the last quarter. 62.56% of the stock is owned by institutional investors.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, 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 document filed with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the sale, the executive vice president now directly owns 23,248 shares in the company, valued at $1,441,376. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,094 shares of company stock worth $17,480,160. Company insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the business earned $0.73 EPS. The company’s revenue was up .1% on a year-over-year basis. equities research analysts anticipate that Nike Inc will post 2.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be paid a dividend of $0.20 per share. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, December 1st. Nike’s payout ratio is 34.04%.
Several equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Nike from a “buy” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity boosted their price objective on Nike from $50.00 to $64.00 and gave the stock a “hold” rating in a research report on Tuesday. Citigroup reiterated a “buy” rating and set a $74.00 price objective on shares of Nike in a research report on Tuesday. Buckingham Research boosted their price objective on Nike from $64.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Telsey Advisory Group boosted their price objective on Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Monday. Four research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.19.
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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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