Nike Inc (NKE) Position Cut by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. cut its stake in Nike Inc (NYSE:NKE) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,850 shares of the footwear maker’s stock after selling 6,112 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Nike were worth $7,497,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in Nike by 2.0% in the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock valued at $8,261,000 after acquiring an additional 3,189 shares in the last quarter. Stifel Financial Corp raised its holdings in Nike by 3.9% in the third quarter. Stifel Financial Corp now owns 1,319,016 shares of the footwear maker’s stock valued at $68,428,000 after acquiring an additional 49,251 shares in the last quarter. Sun Life Financial INC raised its holdings in Nike by 23,747.5% in the second quarter. Sun Life Financial INC now owns 9,539 shares of the footwear maker’s stock valued at $563,000 after acquiring an additional 9,499 shares in the last quarter. Sather Financial Group Inc bought a new stake in Nike during the second quarter valued at $9,275,000. Finally, Capital Bank & Trust Co increased its stake in Nike by 63.7% during the third quarter. Capital Bank & Trust Co now owns 653,742 shares of the footwear maker’s stock valued at $33,897,000 after purchasing an additional 254,372 shares during the last quarter. 65.76% of the stock is currently owned by hedge funds and other institutional investors.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now directly owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The disclosure for this sale can be found here. Insiders sold a total of 1,057,896 shares of company stock valued at $68,424,217 over the last three months. 3.90% of the stock is owned by corporate insiders.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ 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 quarter in the prior year, the firm posted $0.50 EPS. Nike’s revenue was up 4.6% compared to the same quarter last year. equities analysts forecast that Nike Inc will post 2.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, March 2nd. Nike’s payout ratio is 34.63%.
Several analysts have weighed in on the stock. Credit Suisse Group assumed coverage on shares of Nike in a research note on Monday. They set an “outperform” rating and a $78.00 target price for the company. Wedbush reiterated an “outperform” rating and set a $74.00 target price on shares of Nike in a research note on Monday. JPMorgan Chase & Co. set a $58.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Monday, March 5th. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus boosted their target price on shares of Nike from $74.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $66.10.
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Nike Company Profile
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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