Capital Bank & Trust Co grew its position in shares of Nike Inc (NYSE:NKE) by 63.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 653,742 shares of the footwear maker’s stock after purchasing an additional 254,372 shares during the period. Capital Bank & Trust Co’s holdings in Nike were worth $33,897,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its position in Nike by 16.8% in the third quarter. Capital International Investors now owns 9,790,960 shares of the footwear maker’s stock worth $507,661,000 after acquiring an additional 1,405,035 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in Nike in the third quarter worth about $764,000. Chevy Chase Trust Holdings Inc. grew its position in Nike by 14.6% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 1,558,714 shares of the footwear maker’s stock worth $80,819,000 after acquiring an additional 198,748 shares in the last quarter. Alyeska Investment Group L.P. grew its position in Nike by 394.2% in the third quarter. Alyeska Investment Group L.P. now owns 1,166,346 shares of the footwear maker’s stock worth $60,475,000 after acquiring an additional 930,318 shares in the last quarter. Finally, Cohen & Steers Inc. grew its position in Nike by 13.9% in the third quarter. Cohen & Steers Inc. now owns 68,120 shares of the footwear maker’s stock worth $3,532,000 after acquiring an additional 8,320 shares in the last quarter. Hedge funds and other institutional investors own 62.75% of the company’s stock.
NKE has been the subject of several recent research reports. JPMorgan Chase & Co. set a $58.00 price target on Nike and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Goldman Sachs Group set a $62.00 price target on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 28th. Buckingham Research initiated coverage on Nike in a research report on Sunday, December 31st. They issued a “buy” rating and a $72.00 price target for the company. Bank of America set a $42.00 price target on Nike and gave the stock a “sell” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $62.00 price target (down previously from $64.00) on shares of Nike in a research report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $64.94.
Shares of Nike Inc (NKE) opened at $67.21 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. Nike Inc has a 12 month low of $50.35 and a 12 month high of $67.24. The firm has a market cap of $109,650.00, a P/E ratio of 29.10, a PEG ratio of 2.91 and a beta of 0.64.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $8.39 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. sell-side analysts expect that Nike Inc will post 2.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is currently 34.63%.
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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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