Cribstone Capital Management LLC cut its stake in shares of Nike Inc (NYSE:NKE) by 15.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 568 shares of the footwear maker’s stock after selling 105 shares during the quarter. Cribstone Capital Management LLC’s holdings in Nike were worth $58,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Nike by 1.4% during the second quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock worth $8,846,169,000 after acquiring an additional 1,469,583 shares during the last quarter. BlackRock Inc. increased its stake in Nike by 2.2% during the second quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after acquiring an additional 1,883,150 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Nike by 6,608.4% during the second quarter. Nuveen Asset Management LLC now owns 14,363,870 shares of the footwear maker’s stock worth $1,205,847,000 after acquiring an additional 14,149,753 shares during the last quarter. Morgan Stanley increased its stake in Nike by 6.2% during the second quarter. Morgan Stanley now owns 13,280,897 shares of the footwear maker’s stock worth $1,114,930,000 after acquiring an additional 780,269 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Nike by 1.2% during the second quarter. UBS Asset Management Americas Inc. now owns 6,892,844 shares of the footwear maker’s stock worth $578,654,000 after acquiring an additional 83,986 shares during the last quarter. Institutional investors own 65.09% of the company’s stock.
In related news, CAO Hilary K. Krane sold 32,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $89.30, for a total transaction of $2,902,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total transaction of $1,527,110.00. The disclosure for this sale can be found here. Insiders have sold 477,916 shares of company stock valued at $46,659,474 in the last ninety days. 3.80% of the stock is currently owned by company insiders.
Several research analysts have issued reports on NKE shares. Stifel Nicolaus restated a “buy” rating and set a $110.00 target price on shares of Nike in a research report on Monday, December 16th. Morgan Stanley boosted their price target on Nike from $118.00 to $119.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Citigroup boosted their price target on Nike from $103.00 to $115.00 and gave the company a “buy” rating in a report on Friday, December 20th. Cowen restated a “buy” rating and set a $106.00 target price on shares of Nike in a report on Friday, December 20th. Finally, Goldman Sachs Group upgraded Nike to a “buy” rating in a report on Tuesday, December 31st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $106.19.
Shares of Nike stock opened at $102.79 on Thursday. The firm’s 50-day moving average price is $99.03 and its 200 day moving average price is $90.86. The firm has a market capitalization of $160.66 billion, a PE ratio of 41.28, a P/E/G ratio of 2.60 and a beta of 0.84. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.66. Nike Inc has a twelve month low of $77.07 and a twelve month high of $103.89.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.12. The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.09 billion. Nike had a net margin of 11.21% and a return on equity of 50.03%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, sell-side analysts predict that Nike Inc will post 3.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.245 per share. This is a positive change from Nike’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.98 annualized dividend and a yield of 0.95%. Nike’s dividend payout ratio is 39.36%.
Nike Company Profile
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: 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, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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