Peregrine Asset Advisers Inc. cut its position in shares of Nike Inc (NYSE:NKE) by 16.2% in the fourth quarter, HoldingsChannel reports. The firm owned 27,345 shares of the footwear maker’s stock after selling 5,272 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Nike were worth $1,710,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Nike by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after acquiring an additional 2,452,993 shares in the last quarter. Capital Research Global Investors raised its position in shares of Nike by 10.4% in the 2nd quarter. Capital Research Global Investors now owns 24,135,396 shares of the footwear maker’s stock worth $1,423,988,000 after acquiring an additional 2,274,869 shares in the last quarter. Capital World Investors raised its position in shares of Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock worth $1,284,985,000 after acquiring an additional 8,058,601 shares in the last quarter. Northern Trust Corp increased its position in Nike by 6.7% during the 2nd quarter. Northern Trust Corp now owns 21,502,892 shares of the footwear maker’s stock valued at $1,268,671,000 after buying an additional 1,344,638 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after buying an additional 16,237,557 shares in the last quarter. 62.65% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on NKE shares. JPMorgan Chase & Co. set a $58.00 target price on Nike and gave the company a “neutral” rating in a research report on Tuesday, January 2nd. Goldman Sachs Group set a $62.00 target price on Nike and gave the company a “neutral” rating in a research report on Thursday, December 28th. Buckingham Research started coverage on Nike in a research report on Sunday, December 31st. They set a “buy” rating and a $72.00 target price on the stock. Bank of America set a $42.00 target price on Nike and gave the company a “sell” rating in a research report on Friday, December 22nd. Finally, Canaccord Genuity set a $60.00 target price on Nike and gave the company a “hold” rating in a research report on Sunday, January 7th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $65.61.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 25.91% and a net margin of 8.97%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share. research analysts expect that Nike Inc will post 2.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. Nike’s dividend payout ratio is currently 34.63%.
In other Nike news, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the transaction, the insider now owns 227,199 shares in the company, valued at $15,372,284.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders have sold 932,896 shares of company stock worth $59,594,217 in the last quarter. 3.90% of the stock is currently owned by company insiders.
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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