Skandinaviska Enskilda Banken AB publ Grows Holdings in Nike Inc (NKE)
Skandinaviska Enskilda Banken AB publ raised its position in shares of Nike Inc (NYSE:NKE) by 2.6% during the third quarter, HoldingsChannel reports. The firm owned 234,766 shares of the footwear maker’s stock after purchasing an additional 5,900 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Nike were worth $12,173,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Asset Planning Services Ltd. grew its stake 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 buying an additional 7 shares during the last quarter. Willingdon Wealth Management bought a new position in shares of Nike during the third quarter valued at about $114,000. Atlantic Trust LLC bought a new position in shares of Nike during the second quarter valued at about $136,000. Kistler Tiffany Companies LLC grew its stake in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Howe & Rusling Inc. grew its stake in shares of Nike by 751.3% in the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
In other news, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the transaction, the chairman now owns 1,502,830 shares of the company’s stock, valued at $97,683,950. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 over the last quarter. Company insiders own 3.90% of the company’s stock.
Several research firms recently issued reports on NKE. Citigroup reissued a “buy” rating and issued a $74.00 target price on shares of Nike in a research note on Tuesday, December 19th. Canaccord Genuity raised their target price on Nike from $50.00 to $64.00 and gave the stock a “hold” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised Nike from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a research note on Tuesday, December 19th. Telsey Advisory Group raised their target price on Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. Finally, Buckingham Research raised their target price on Nike from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have issued a buy rating to the company. Nike presently has an average rating of “Hold” and an average price target of $64.40.
Nike Inc (NYSE NKE) opened at $64.67 on Monday. Nike Inc has a 1-year low of $50.35 and a 1-year high of $65.18. The stock has a market cap of $105,214.14, a P/E ratio of 28.00, a PEG ratio of 2.93 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. sell-side analysts predict that Nike Inc will post 2.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. Nike’s dividend payout ratio (DPR) is presently 34.63%.
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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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