Arrow Financial Corp raised its position in shares of Nike, Inc. (NYSE:NKE) by 0.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,875 shares of the footwear maker’s stock after buying an additional 10 shares during the period. Arrow Financial Corp’s holdings in Nike were worth $572,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in the stock. Lone Pine Capital LLC boosted its stake in shares of Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock worth $1,010,475,000 after buying an additional 6,309,324 shares during the period. Janus Capital Management LLC boosted its stake in shares of Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock worth $1,405,003,000 after buying an additional 3,203,177 shares during the period. Carmignac Gestion boosted its stake in shares of Nike by 148.9% in the third quarter. Carmignac Gestion now owns 5,259,454 shares of the footwear maker’s stock worth $276,910,000 after buying an additional 3,146,536 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Nike by 31.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,995,505 shares of the footwear maker’s stock worth $662,152,000 after buying an additional 2,894,014 shares during the period. Finally, Generation Investment Management LLP boosted its stake in shares of Nike by 144.0% in the second quarter. Generation Investment Management LLP now owns 4,301,058 shares of the footwear maker’s stock worth $237,418,000 after buying an additional 2,538,300 shares during the period. 61.06% of the stock is owned by institutional investors.
Shares of Nike, Inc. (NYSE:NKE) traded down 0.71% during trading on Wednesday, reaching $53.27. 6,743,094 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $51.88 and a 200 day moving average price of $53.82. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $65.44. The company has a market capitalization of $88.13 billion, a P/E ratio of 23.49 and a beta of 0.47.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.07. The business earned $8.20 billion during the quarter. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.90 earnings per share. Equities analysts expect that Nike, Inc. will post $2.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Monday, December 5th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. Nike’s dividend payout ratio is currently 31.72%.
A number of equities research analysts recently commented on NKE shares. Piper Jaffray Companies reiterated a “neutral” rating and set a $53.00 price target on shares of Nike in a report on Wednesday, October 12th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.41 price target for the company in a report on Tuesday, November 1st. Jefferies Group set a $75.00 price target on shares of Nike and gave the company a “buy” rating in a report on Tuesday, December 27th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Nike in a report on Thursday, December 15th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $62.00 price target on shares of Nike in a report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $62.40.
In other news, EVP John F. Slusher sold 136,000 shares of the stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $52.13, for a total transaction of $7,089,680.00. Following the completion of the transaction, the executive vice president now directly owns 225,165 shares in the company, valued at approximately $11,737,851.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David J. Ayre sold 200,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $52.39, for a total value of $10,478,000.00. Following the transaction, the executive vice president now owns 357,713 shares of the company’s stock, valued at $18,740,584.07. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
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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