Nachman Norwood & Parrott Inc Has $969,000 Stake in NIKE, Inc. (NYSE:NKE)
Nachman Norwood & Parrott Inc lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 7,700 shares of the footwear maker’s stock after selling 106 shares during the period. Nachman Norwood & Parrott Inc’s holdings in NIKE were worth $969,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clarius Group LLC lifted its position in NIKE by 0.8% during the 3rd quarter. Clarius Group LLC now owns 11,031 shares of the footwear maker’s stock worth $1,385,000 after buying an additional 84 shares in the last quarter. Glassman Wealth Services lifted its stake in NIKE by 6.6% in the 2nd quarter. Glassman Wealth Services now owns 1,626 shares of the footwear maker’s stock valued at $159,000 after purchasing an additional 100 shares during the last quarter. Adirondack Trust Co. increased its position in NIKE by 1.9% in the 2nd quarter. Adirondack Trust Co. now owns 5,320 shares of the footwear maker’s stock valued at $519,000 after acquiring an additional 100 shares during the period. Capital Analysts LLC increased its position in shares of NIKE by 8.0% during the second quarter. Capital Analysts LLC now owns 1,410 shares of the footwear maker’s stock worth $138,000 after buying an additional 104 shares during the period. Finally, Lafayette Investments Inc. increased its position in shares of NIKE by 1.1% during the second quarter. Lafayette Investments Inc. now owns 10,067 shares of the footwear maker’s stock worth $987,000 after buying an additional 108 shares during the period. 64.20% of the stock is currently owned by institutional investors.
In other NIKE news, insider Heidi O’neill sold 10,000 shares of NIKE stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrew Campion sold 56,313 shares of NIKE stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $98.56, for a total value of $5,550,209.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 841,962 shares of company stock worth $103,292,012. Insiders own 3.80% of the company’s stock.
NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.46 by $0.49. The firm had revenue of $10.59 billion for the quarter, compared to analyst estimates of $9.15 billion. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 earnings per share. Analysts forecast that NIKE, Inc. will post 2.78 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, August 31st were paid a dividend of $0.245 per share. The ex-dividend date was Friday, August 28th. This represents a $0.98 annualized dividend and a dividend yield of 0.77%. NIKE’s dividend payout ratio is currently 52.97%.
NKE has been the subject of a number of research reports. Raymond James raised their price target on shares of NIKE from $115.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, September 18th. Morgan Stanley raised their price target on shares of NIKE from $121.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. UBS Group raised their price target on shares of NIKE from $127.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. 140166 lifted their target price on shares of NIKE from $150.00 to $160.00 and gave the stock a “positive” rating in a research note on Wednesday, September 23rd. Finally, Wedbush lifted their target price on shares of NIKE from $127.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $137.03.
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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