Tiaa Fsb Grows Stake in Nike Inc (NYSE:NKE)
Tiaa Fsb increased its position in Nike Inc (NYSE:NKE) by 1.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,212 shares of the footwear maker’s stock after purchasing an additional 1,157 shares during the quarter. Tiaa Fsb’s holdings in Nike were worth $10,539,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northstar Investment Advisors LLC increased its position in Nike by 42.4% during the 3rd quarter. Northstar Investment Advisors LLC now owns 28,280 shares of the footwear maker’s stock valued at $2,390,000 after buying an additional 8,421 shares in the last quarter. Enterprise Bank & Trust Co increased its holdings in shares of Nike by 3.9% in the 3rd quarter. Enterprise Bank & Trust Co now owns 32,832 shares of the footwear maker’s stock worth $3,083,000 after purchasing an additional 1,220 shares in the last quarter. Allred Capital Management LLC bought a new stake in shares of Nike in the 3rd quarter worth $220,000. HNP Capital LLC bought a new stake in shares of Nike in the 3rd quarter worth $202,000. Finally, Bath Savings Trust Co increased its holdings in shares of Nike by 1.4% in the 3rd quarter. Bath Savings Trust Co now owns 208,088 shares of the footwear maker’s stock worth $19,544,000 after purchasing an additional 2,820 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.
NYSE NKE traded up $0.56 during trading hours on Wednesday, hitting $92.31. 116,336 shares of the company were exchanged, compared to its average volume of 6,485,021. The stock has a 50-day moving average price of $87.36 and a 200 day moving average price of $85.24. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. Nike Inc has a 52 week low of $66.53 and a 52 week high of $94.75. The stock has a market cap of $145.83 billion, a PE ratio of 36.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.85.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 0.95%. Nike’s dividend payout ratio is presently 35.34%.
In related news, CAO Hilary K. Krane sold 17,903 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $88.70, for a total value of $1,587,996.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 2,770 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 523,482 shares of company stock valued at $47,549,976. Company insiders own 3.80% of the company’s stock.
Several analysts recently commented on NKE shares. Deutsche Bank set a $105.00 price objective on Nike and gave the stock a “buy” rating in a report on Monday. Piper Jaffray Companies lifted their price objective on Nike from $97.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Canaccord Genuity reaffirmed a “buy” rating and issued a $96.00 price objective on shares of Nike in a report on Wednesday, June 19th. Needham & Company LLC lifted their price objective on Nike from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Bank of America raised Nike to an “underperform” rating and lifted their price objective for the stock from $60.00 to $70.00 in a report on Monday, June 24th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $95.14.
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.
Further Reading: Net Margin
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