Hartford Investment Management Co. cut its holdings in Nike Inc (NYSE:NKE) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 357,657 shares of the footwear maker’s stock after selling 3,065 shares during the quarter. Hartford Investment Management Co.’s holdings in Nike were worth $18,545,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Fiduciary Trust Co. boosted its stake in Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 23,450 shares during the last quarter. Great Lakes Advisors LLC boosted its stake in Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after acquiring an additional 4,030 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after acquiring an additional 17,285 shares during the last quarter. Finally, Airain ltd acquired a new stake in Nike in the second quarter worth $3,189,000. 62.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nike Inc (NYSE NKE) opened at $64.67 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Nike Inc has a twelve month low of $50.35 and a twelve month high of $65.18. The company has a market cap of $105,510.00, a price-to-earnings ratio of 28.00, a P/E/G ratio of 2.92 and a beta of 0.64.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were paid a $0.20 dividend. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Friday, December 1st. Nike’s payout ratio is presently 34.63%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock worth $60,257,267 over the last quarter. Company insiders own 3.90% of the company’s stock.
Several equities research analysts have weighed in on NKE shares. Morgan Stanley set a $64.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Monday, September 18th. Citigroup reiterated a “buy” rating and issued a $65.00 target price (down from $67.00) on shares of Nike in a report on Wednesday, September 27th. Nomura cut their target price on shares of Nike from $62.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. Instinet reiterated a “buy” rating and issued a $62.00 target price (up from $59.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Buckingham Research reiterated a “buy” rating and issued a $64.00 target price on shares of Nike in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty-one have assigned a buy rating to the company. Nike currently has a consensus rating of “Hold” and an average price target of $64.40.
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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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