Jacobson & Schmitt Advisors LLC Has $6.88 Million Position in Nike Inc (NKE)

Jacobson & Schmitt Advisors LLC increased its stake in Nike Inc (NYSE:NKE) by 19.9% during the third quarter, HoldingsChannel.com reports. The firm owned 132,740 shares of the footwear maker’s stock after acquiring an additional 22,033 shares during the period. Nike makes up approximately 4.6% of Jacobson & Schmitt Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Jacobson & Schmitt Advisors LLC’s holdings in Nike were worth $6,883,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Estabrook Capital Management boosted its stake in Nike by 1.9% in the third quarter. Estabrook Capital Management now owns 53,087 shares of the footwear maker’s stock valued at $2,753,000 after buying an additional 985 shares in the last quarter. Ffcm LLC acquired a new stake in Nike in the third quarter valued at about $2,054,000. Great West Life Assurance Co. Can boosted its stake in Nike by 2.1% in the third quarter. Great West Life Assurance Co. Can now owns 2,655,099 shares of the footwear maker’s stock valued at $139,282,000 after buying an additional 54,528 shares in the last quarter. Nordea Investment Management AB boosted its stake in Nike by 3.0% in the third quarter. Nordea Investment Management AB now owns 259,553 shares of the footwear maker’s stock valued at $13,458,000 after buying an additional 7,536 shares in the last quarter. Finally, Torray LLC boosted its stake in Nike by 1.5% in the third quarter. Torray LLC now owns 246,049 shares of the footwear maker’s stock valued at $12,758,000 after buying an additional 3,676 shares in the last quarter. Institutional investors own 62.67% of the company’s stock.

Several research firms recently weighed in on NKE. Barclays set a $75.00 price objective on Nike and gave the company a “buy” rating in a research note on Tuesday. Canaccord Genuity set a $60.00 price objective on Nike and gave the company a “hold” rating in a research note on Sunday. Buckingham Research started coverage on Nike in a research note on Saturday, January 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Main First Bank set a $75.00 price target on Nike and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, Goldman Sachs Group set a $62.00 price target on Nike and gave the company a “neutral” rating in a research note on Wednesday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $64.14.

In other news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 967,896 shares of company stock valued at $60,257,267. 3.90% of the stock is currently owned by corporate insiders.

Shares of Nike Inc (NKE) opened at $64.22 on Thursday. The firm has a market capitalization of $104,780.00, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. Nike Inc has a 1-year low of $50.35 and a 1-year high of $65.18.

Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. equities analysts anticipate that Nike Inc will post 2.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were issued a $0.20 dividend. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Friday, December 1st. Nike’s payout ratio is presently 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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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