Abner Herrman & Brock LLC Increases Holdings in Nike Inc (NKE)
Abner Herrman & Brock LLC raised its position in Nike Inc (NYSE:NKE) by 196.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 136,463 shares of the footwear maker’s stock after purchasing an additional 90,365 shares during the period. Nike accounts for approximately 1.8% of Abner Herrman & Brock LLC’s portfolio, making the stock its 24th biggest holding. Abner Herrman & Brock LLC’s holdings in Nike were worth $10,117,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in NKE. Commonwealth Bank of Australia increased its stake in shares of Nike by 1.9% in the 3rd quarter. Commonwealth Bank of Australia now owns 104,676 shares of the footwear maker’s stock worth $8,861,000 after acquiring an additional 1,942 shares during the last quarter. Sustainable Insight Capital Management LLC increased its stake in shares of Nike by 30.3% in the 3rd quarter. Sustainable Insight Capital Management LLC now owns 4,564 shares of the footwear maker’s stock worth $387,000 after acquiring an additional 1,061 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Nike by 148.9% in the 3rd quarter. MML Investors Services LLC now owns 109,564 shares of the footwear maker’s stock worth $9,282,000 after acquiring an additional 65,550 shares during the last quarter. Credit Suisse AG increased its stake in shares of Nike by 6.8% in the 3rd quarter. Credit Suisse AG now owns 3,719,280 shares of the footwear maker’s stock worth $315,098,000 after acquiring an additional 237,127 shares during the last quarter. Finally, BSW Wealth Partners acquired a new stake in shares of Nike in the 3rd quarter worth $215,000. Institutional investors own 63.99% of the company’s stock.
Nike stock traded up $0.15 during midday trading on Friday, reaching $76.57. 318,008 shares of the stock traded hands, compared to its average volume of 8,586,630. Nike Inc has a 12-month low of $62.09 and a 12-month high of $86.04. The stock has a market capitalization of $121.63 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 2.37 and a beta of 0.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, November 30th. This is a boost from Nike’s previous quarterly dividend of $0.20. Nike’s dividend payout ratio (DPR) is presently 36.36%.
A number of brokerages have issued reports on NKE. HSBC reaffirmed a “neutral” rating and issued a $92.00 target price on shares of Nike in a research note on Wednesday, October 3rd. JPMorgan Chase & Co. raised Nike from a “neutral” rating to an “overweight” rating and set a $85.00 price objective for the company in a research report on Friday, December 21st. Stifel Nicolaus reissued a “buy” rating on shares of Nike in a research report on Thursday, December 20th. UBS Group set a $78.00 price objective on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 27th. Finally, Morgan Stanley set a $88.00 price objective on Nike and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $83.14.
In other news, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total value of $11,052,000.00. Following the completion of the transaction, the chairman now owns 1,687,863 shares in the company, valued at approximately $124,361,745.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the transaction, the executive vice president now owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
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Nike Company Profile
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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