Cerebellum GP LLC grew its position in shares of Nike Inc (NYSE:NKE) by 14.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,560 shares of the footwear maker’s stock after acquiring an additional 710 shares during the quarter. Cerebellum GP LLC’s holdings in Nike were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lido Advisors LLC grew its stake in Nike by 2.0% during the second quarter. Lido Advisors LLC now owns 7,147 shares of the footwear maker’s stock worth $601,000 after purchasing an additional 139 shares during the period. ETF Managers Group LLC acquired a new stake in Nike during the second quarter worth approximately $1,136,000. Private Advisor Group LLC grew its stake in Nike by 7.7% during the second quarter. Private Advisor Group LLC now owns 71,055 shares of the footwear maker’s stock worth $5,930,000 after purchasing an additional 5,098 shares during the period. Sterling Capital Management LLC acquired a new stake in Nike during the second quarter worth approximately $1,662,000. Finally, Silvercrest Asset Management Group LLC grew its stake in Nike by 5.2% during the second quarter. Silvercrest Asset Management Group LLC now owns 52,466 shares of the footwear maker’s stock worth $4,405,000 after purchasing an additional 2,582 shares during the period. 65.09% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $93.55, for a total value of $15,435,750.00. Following the transaction, the chief executive officer now owns 2,046,040 shares in the company, valued at $191,407,042. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Elliott Hill sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $102.50, for a total value of $9,225,000.00. The disclosure for this sale can be found here. Insiders sold 477,916 shares of company stock worth $46,659,474 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.
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 consensus estimate of $0.58 by $0.12. Nike had a return on equity of 50.03% and a net margin of 11.21%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.09 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Nike Inc will post 3.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Nike’s previous quarterly dividend of $0.22. Nike’s dividend payout ratio (DPR) is currently 39.36%.
Several research firms recently commented on NKE. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $110.00 target price (up previously from $101.00) on shares of Nike in a research note on Friday, December 20th. Goldman Sachs Group raised Nike to a “buy” rating in a research note on Tuesday, December 31st. Susquehanna Bancshares raised their target price on Nike from $106.00 to $115.00 and gave the stock a “positive” rating in a research note on Thursday, December 19th. Jefferies Financial Group reaffirmed a “neutral” rating and set a $97.00 target price on shares of Nike in a research note on Wednesday, January 1st. Finally, Barclays began coverage on Nike in a research note on Tuesday, November 12th. They set an “overweight” rating and a $111.00 target price for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $106.19.
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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