Nike Inc (NKE) Shares Sold by Keel Point LLC
Keel Point LLC cut its holdings in Nike Inc (NYSE:NKE) by 47.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,101 shares of the footwear maker’s stock after selling 4,666 shares during the period. Keel Point LLC’s holdings in Nike were worth $319,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Field & Main Bank purchased a new stake in shares of Nike during the 4th quarter worth approximately $100,000. Willingdon Wealth Management purchased a new stake in shares of Nike during the 3rd quarter worth approximately $114,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Nike during the 4th quarter worth approximately $128,000. First Dallas Securities Inc. purchased a new stake in shares of Nike during the 4th quarter worth approximately $128,000. Finally, Atlantic Trust LLC purchased a new stake in shares of Nike during the 2nd quarter worth approximately $136,000. 61.57% of the stock is currently owned by institutional investors.
In other news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $65.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,511,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total value of $9,450,000.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $114,641,520. The disclosure for this sale can be found here. Insiders have sold a total of 1,067,896 shares of company stock worth $69,044,217 in the last three months. Corporate insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. research analysts forecast that Nike Inc will post 2.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s payout ratio is 34.63%.
Several brokerages have recently issued reports on NKE. Oppenheimer raised Nike to a “buy” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on Nike from $74.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Citigroup reaffirmed a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Nike in a report on Wednesday, January 31st. Zacks Investment Research downgraded Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Buckingham Research boosted their target price on Nike from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have given a buy rating to the stock. Nike has an average rating of “Hold” and an average target price of $65.61.
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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