Gofen & Glossberg LLC IL lowered its stake in Nike Inc. (NYSE:NKE) by 2.2% during the third quarter, Holdings Channel reports. The institutional investor owned 297,662 shares of the footwear maker’s stock after selling 6,794 shares during the period. Gofen & Glossberg LLC IL’s holdings in Nike were worth $15,672,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of NKE. Vanguard Group Inc. increased its stake in Nike by 0.4% in the second quarter. Vanguard Group Inc. now owns 89,158,174 shares of the footwear maker’s stock worth $4,921,530,000 after buying an additional 366,833 shares during the period. Janus Capital Management LLC increased its stake in Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares during the period. Lone Pine Capital LLC increased its stake in Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares during the period. Alliancebernstein L.P. increased its stake in Nike by 10.7% in the second quarter. Alliancebernstein L.P. now owns 13,281,527 shares of the footwear maker’s stock worth $733,140,000 after buying an additional 1,286,718 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Nike by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 13,141,313 shares of the footwear maker’s stock worth $725,254,000 after buying an additional 619,253 shares during the period. 62.90% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded up 0.35% during midday trading on Friday, hitting $51.52. The stock had a trading volume of 2,736,767 shares. The firm has a market capitalization of $85.80 billion, a PE ratio of 23.25 and a beta of 0.48. The firm’s 50-day moving average price is $51.17 and its 200-day moving average price is $54.68. Nike Inc. has a one year low of $49.01 and a one year high of $68.19.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. Nike’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.34 EPS. On average, equities analysts predict that Nike Inc. will post $2.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. This is a boost from Nike’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, December 1st. Nike’s dividend payout ratio (DPR) is currently 28.83%.
A number of equities research analysts have commented on NKE shares. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.56 target price for the company in a report on Tuesday, October 18th. Deutsche Bank AG reaffirmed a “buy” rating and set a $75.00 price target on shares of Nike in a research note on Sunday, September 25th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research note on Friday, September 16th. Morgan Stanley reaffirmed a “hold” rating and set a $60.00 price target on shares of Nike in a research note on Wednesday, September 21st. Finally, Canaccord Genuity cut their price target on Nike from $52.00 to $51.00 and set a “hold” rating for the company in a research note on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $63.43.
In other news, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction dated Friday, September 30th. The stock was bought at an average cost of $52.72 per share, with a total value of $52,720.00. Following the purchase, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total value of $7,467,000.00. Following the completion of the sale, the chairman now directly owns 1,985,225 shares of the company’s stock, valued at $98,824,500.50. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
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.