Nike Inc (NKE) Stake Lessened by JLB & Associates Inc.
JLB & Associates Inc. lowered its stake in shares of Nike Inc (NYSE:NKE) by 0.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 134,198 shares of the footwear maker’s stock after selling 446 shares during the period. Nike makes up approximately 2.4% of JLB & Associates Inc.’s investment portfolio, making the stock its 20th largest position. JLB & Associates Inc.’s holdings in Nike were worth $9,949,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Nike by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after purchasing an additional 1,207,986 shares in the last quarter. Vanguard Group Inc boosted its holdings in shares of Nike by 1.2% in the third quarter. Vanguard Group Inc now owns 102,670,288 shares of the footwear maker’s stock valued at $8,698,227,000 after acquiring an additional 1,207,986 shares in the last quarter. BlackRock Inc. boosted its holdings in Nike by 1.2% during the third quarter. BlackRock Inc. now owns 82,676,038 shares of the footwear maker’s stock worth $7,004,317,000 after buying an additional 966,541 shares in the last quarter. Capital Research Global Investors boosted its holdings in Nike by 0.7% during the third quarter. Capital Research Global Investors now owns 54,349,821 shares of the footwear maker’s stock worth $4,604,517,000 after buying an additional 354,981 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Nike by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after buying an additional 1,273,548 shares in the last quarter. 63.99% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Needham & Company LLC upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research report on Thursday. HSBC downgraded shares of Nike from a “neutral” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird downgraded shares of Nike from an “outperform” rating to a “neutral” rating and set a $76.62 target price for the company. in a research note on Wednesday. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $85.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Wednesday, January 2nd. Finally, UBS Group set a $78.00 price objective on shares of Nike and gave the company a “neutral” rating in a research note on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. Nike currently has a consensus rating of “Buy” and an average target price of $83.14.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Nike had a return on equity of 44.85% and a net margin of 5.66%. Nike’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. As a group, equities research analysts expect that Nike Inc will post 2.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 3rd were issued a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, November 30th. Nike’s dividend payout ratio (DPR) is 36.36%.
In related news, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at $21,089,810.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 150,000 shares of the business’s 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 transaction, the chairman now owns 1,687,863 shares of the company’s stock, valued at $124,361,745.84. The disclosure for this sale can be found here. Insiders own 3.90% 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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