Lathrop Investment Management Corp Has $16.38 Million Stock Holdings in Nike Inc (NYSE:NKE)
Lathrop Investment Management Corp lifted its stake in shares of Nike Inc (NYSE:NKE) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,426 shares of the footwear maker's stock after acquiring an additional 1,027 shares during the quarter. Nike makes up approximately 4.5% of Lathrop Investment Management Corp's holdings, making the stock its 6th biggest position. Lathrop Investment Management Corp's holdings in Nike were worth $16,382,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. HCR Wealth Advisors boosted its stake in Nike by 1.8% in the 2nd quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker's stock worth $1,174,000 after purchasing an additional 250 shares during the period. Bank of Nova Scotia raised its holdings in shares of Nike by 25.7% during the 2nd quarter. Bank of Nova Scotia now owns 375,971 shares of the footwear maker's stock worth $30,799,000 after acquiring an additional 76,852 shares in the last quarter. Chicago Capital LLC raised its holdings in shares of Nike by 33.8% during the 2nd quarter. Chicago Capital LLC now owns 14,988 shares of the footwear maker's stock worth $1,258,000 after acquiring an additional 3,789 shares in the last quarter. Whitener Capital Management Inc. raised its holdings in shares of Nike by 9.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 34,586 shares of the footwear maker's stock worth $2,903,000 after acquiring an additional 2,950 shares in the last quarter. Finally, BB&T Corp raised its holdings in shares of Nike by 2.7% during the 2nd quarter. BB&T Corp now owns 42,415 shares of the footwear maker's stock worth $3,561,000 after acquiring an additional 1,124 shares in the last quarter. Institutional investors own 65.35% of the company's stock.
NYSE:NKE traded down $0.22 during midday trading on Tuesday, hitting $96.01. 1,345,545 shares of the company traded hands, compared to its average volume of 7,262,430. The firm's fifty day moving average is $90.56 and its 200-day moving average is $85.95. Nike Inc has a 12-month low of $66.53 and a 12-month high of $96.87. The firm has a market capitalization of $150.02 billion, a P/E ratio of 38.56, a P/E/G ratio of 2.55 and a beta of 0.85. The company has a current ratio of 2.01, a quick ratio of 1.29 and a debt-to-equity ratio of 0.67.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.15. Nike had a return on equity of 47.92% and a net margin of 10.81%. The business had revenue of $10.66 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The business's revenue was up 7.2% compared to the same quarter last year. On average, research analysts expect that Nike Inc will post 2.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 0.92%. Nike's payout ratio is 35.34%.
In other Nike news, CEO Mark G. Parker sold 165,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $93.42, for a total value of $15,414,300.00. Following the sale, the chief executive officer now owns 2,054,511 shares in the company, valued at $191,932,417.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Elliott Hill sold 3,228 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.07, for a total value of $281,061.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 505,579 shares of company stock worth $45,961,980. Insiders own 3.80% of the company's stock.
NKE has been the topic of several recent research reports. Goldman Sachs Group set a $95.00 price objective on Nike and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Piper Jaffray Companies upped 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. Daiwa Capital Markets set a $91.00 price objective on Nike and gave the stock a "hold" rating in a report on Friday, September 27th. JPMorgan Chase & Co. set a $105.00 price objective on Nike and gave the stock a "buy" rating in a report on Tuesday, October 1st. Finally, ValuEngine cut Nike from a "buy" rating to a "hold" rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of "Buy" and a consensus price target of $96.98.Nike 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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