Castleark Management LLC raised its position in shares of Nike Inc (NYSE:NKE) by 60.4% in the fourth quarter, Holdings Channel reports. The fund owned 236,782 shares of the footwear maker’s stock after acquiring an additional 89,125 shares during the quarter. Castleark Management LLC’s holdings in Nike were worth $17,555,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC increased its holdings in shares of Nike by 54.2% in the fourth quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Acima Private Wealth LLC acquired a new stake in shares of Nike in the fourth quarter valued at approximately $39,000. Proffitt & Goodson Inc. acquired a new stake in shares of Nike in the fourth quarter valued at approximately $44,000. Athena Capital Advisors LLC acquired a new stake in Nike during the fourth quarter worth $56,000. Finally, Ruggie Capital Group increased its stake in Nike by 40.7% during the fourth quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock worth $60,000 after acquiring an additional 233 shares during the last quarter. 64.85% of the stock is owned by institutional investors and hedge funds.

NKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Nike to $87.06 and gave the stock a “neutral” rating in a research note on Friday, December 21st. Macquarie set a $98.00 target price on Nike and gave the stock a “buy” rating in a research note on Tuesday, November 20th. Pivotal Research raised Nike from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Friday, December 21st. Bank of America set a $55.00 target price on Nike and gave the stock a “sell” rating in a research note on Sunday, December 23rd. Finally, Cowen set a $80.00 target price on Nike and gave the stock a “hold” rating in a research note on Friday, January 11th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Nike has a consensus rating of “Buy” and a consensus target price of $84.59.

In other news, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $82.00, for a total transaction of $12,300,000.00. Following the completion of the transaction, the chairman now directly owns 1,539,963 shares in the company, valued at $126,276,966. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the transaction, the executive vice president now owns 284,805 shares of the company’s stock, valued at $21,089,810.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 800,000 shares of company stock valued at $61,862,000. Company insiders own 3.90% of the company’s stock.

NKE opened at $86.87 on Friday. Nike Inc has a 52 week low of $63.21 and a 52 week high of $87.99. The firm has a market cap of $134.45 billion, a PE ratio of 35.90, a PEG ratio of 2.64 and a beta of 0.68. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. During the same period last year, the business posted $0.46 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities research analysts predict that Nike Inc will post 2.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. Nike’s dividend payout ratio is currently 36.36%.

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Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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