Sather Financial Group Inc Invests $9.28 Million in Nike, Inc. (NKE)
Sather Financial Group Inc acquired a new stake in Nike, Inc. (NYSE:NKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 157,202 shares of the footwear maker’s stock, valued at approximately $9,275,000. Nike makes up 2.7% of Sather Financial Group Inc’s investment portfolio, making the stock its 17th biggest position.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Planning Services Ltd. raised its stake in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after acquiring an additional 201 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in Nike by 31.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 3,085 shares of the footwear maker’s stock worth $171,000 after acquiring an additional 731 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in Nike by 14.3% during the 2nd quarter. Oakworth Capital Inc. now owns 2,994 shares of the footwear maker’s stock worth $177,000 after acquiring an additional 374 shares in the last quarter. Institutional investors and hedge funds own 63.05% of the company’s stock.
Several equities research analysts recently commented on the stock. HSBC lowered shares of Nike from a “buy” rating to a “hold” rating and lifted their price target for the stock from $58.95 to $62.00 in a research note on Tuesday. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Citigroup reiterated a “buy” rating and set a $65.00 price target (down from $67.00) on shares of Nike in a research note on Wednesday, September 27th. Goldman Sachs Group reiterated a “buy” rating and set a $58.00 price target (down from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $57.75 price target on the stock. in a research note on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $59.01.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was 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 in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Shares of Nike, Inc. (NYSE NKE) traded down $0.34 during trading hours on Friday, hitting $59.88. 10,113,565 shares of the stock traded hands, compared to its average volume of 8,428,617. The stock has a market capitalization of $98,584.41, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. Nike, Inc. has a 1-year low of $50.11 and a 1-year high of $61.21.
Nike (NYSE:NKE) last issued its earnings results 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 business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. sell-side analysts forecast that Nike, Inc. will post 2.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be issued a $0.20 dividend. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. Nike’s payout ratio is presently 30.64%.
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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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