MainStreet Investment Advisors LLC lifted its position in shares of Nike Inc (NYSE:NKE) by 247.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,959 shares of the footwear maker’s stock after purchasing an additional 9,941 shares during the period. MainStreet Investment Advisors LLC’s holdings in Nike were worth $1,155,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the company. Banco Santander S.A. boosted its holdings in Nike by 148.1% in the first quarter. Banco Santander S.A. now owns 133,189 shares of the footwear maker’s stock valued at $11,020,000 after acquiring an additional 79,503 shares during the last quarter. Fiduciary Group LLC boosted its holdings in Nike by 3.0% in the first quarter. Fiduciary Group LLC now owns 20,340 shares of the footwear maker’s stock valued at $1,683,000 after acquiring an additional 600 shares during the last quarter. Heritage Trust Co boosted its holdings in Nike by 2.7% in the first quarter. Heritage Trust Co now owns 4,411 shares of the footwear maker’s stock valued at $365,000 after acquiring an additional 117 shares during the last quarter. Argent Trust Co boosted its holdings in Nike by 3.5% in the first quarter. Argent Trust Co now owns 35,628 shares of the footwear maker’s stock valued at $2,948,000 after acquiring an additional 1,191 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Nike by 40.0% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 437,053 shares of the footwear maker’s stock valued at $36,162,000 after acquiring an additional 124,774 shares during the last quarter. Institutional investors own 65.08% of the company’s stock.
Several brokerages recently commented on NKE. Barclays reiterated a “buy” rating and issued a $106.00 target price on shares of Nike in a report on Tuesday, March 10th. Needham & Company LLC cut their price target on Nike from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Goldman Sachs Group set a $102.00 price target on Nike and gave the stock a “buy” rating in a report on Thursday, April 23rd. Morgan Stanley cut their price target on Nike from $119.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, March 24th. Finally, Bank of America upgraded Nike from a “neutral” rating to a “buy” rating and cut their price target for the stock from $105.00 to $85.00 in a report on Friday, March 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $98.18.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 24th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.19. The business had revenue of $10.10 billion during the quarter, compared to analyst estimates of $9.56 billion. Nike had a return on equity of 51.49% and a net margin of 10.46%. Nike’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS. On average, research analysts expect that Nike Inc will post 2.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, May 29th. Nike’s payout ratio is currently 39.36%.
In other Nike news, Director John W. Rogers, Jr. acquired 1,000 shares of Nike stock in a transaction on Friday, April 3rd. The stock was purchased at an average price of $84.63 per share, for a total transaction of $84,630.00. Following the purchase, the director now directly owns 12,851 shares of the company’s stock, valued at $1,087,580.13. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $90.00, for a total value of $990,000.00. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.
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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