Nemes Rush Group LLC trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 96.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 484 shares of the footwear maker's stock after selling 14,001 shares during the period. Nemes Rush Group LLC's holdings in NIKE were worth $37,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in NIKE during the fourth quarter worth $1,126,288,000. Wellington Management Group LLP boosted its position in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after purchasing an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of NIKE by 358.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker's stock valued at $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Bank of America dropped their target price on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, December 20th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. BMO Capital Markets decreased their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and raised their price target for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Guggenheim reiterated a "buy" rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $87.38.
Check Out Our Latest Stock Analysis on NIKE
NIKE Stock Performance
NIKE stock traded down $9.48 during mid-day trading on Thursday, reaching $55.49. The company's stock had a trading volume of 71,401,127 shares, compared to its average volume of 13,211,281. The firm has a market cap of $82.07 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a twelve month low of $55.26 and a twelve month high of $98.04. The business has a 50 day moving average price of $73.28 and a 200-day moving average price of $76.49. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.
NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.
NIKE Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 53.16%.
Insider Buying and Selling
In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company's stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company's stock.
NIKE Company Profile
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Free Report)
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
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