Retirement Systems of Alabama boosted its stake in Nike Inc. (NYSE:NKE) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 1,260,999 shares of the footwear maker’s stock after buying an additional 7,856 shares during the period. Retirement Systems of Alabama’s holdings in Nike were worth $69,607,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Cullen Frost Bankers Inc. boosted its position in Nike by 3.7% in the second quarter. Cullen Frost Bankers Inc. now owns 306,510 shares of the footwear maker’s stock valued at $16,919,000 after buying an additional 10,809 shares during the last quarter. Prospera Financial Services Inc boosted its position in Nike by 64.9% in the second quarter. Prospera Financial Services Inc now owns 37,537 shares of the footwear maker’s stock valued at $2,072,000 after buying an additional 14,772 shares during the last quarter. Conning Inc. boosted its position in Nike by 0.5% in the second quarter. Conning Inc. now owns 60,312 shares of the footwear maker’s stock valued at $3,329,000 after buying an additional 300 shares during the last quarter. PGGM Investments boosted its position in Nike by 1.3% in the second quarter. PGGM Investments now owns 906,421 shares of the footwear maker’s stock valued at $50,034,000 after buying an additional 11,765 shares during the last quarter. Finally, Genesee Valley Trust Co. boosted its position in Nike by 2.1% in the second quarter. Genesee Valley Trust Co. now owns 36,643 shares of the footwear maker’s stock valued at $2,023,000 after buying an additional 752 shares during the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded down 3.78% on Wednesday, hitting $53.25. 33,213,008 shares of the stock traded hands. The company has a market cap of $89.33 billion, a PE ratio of 24.65 and a beta of 0.52. The stock has a 50 day moving average of $56.71 and a 200 day moving average of $57.30. Nike Inc. has a one year low of $51.48 and a one year high of $68.19.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.61% and a return on equity of 29.57%. The business had revenue of $9.06 billion for the quarter. During the same quarter in the previous year, the company posted $1.34 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Nike Inc. will post $2.40 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. Nike’s payout ratio is 29.63%.
Several research analysts have recently weighed in on the stock. Bank of America Corp. set a $55.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Wednesday. Wells Fargo & Co. reiterated a “hold” rating on shares of Nike in a research report on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Nike in a research report on Wednesday. Robert W. Baird reiterated an “outperform” rating and issued a $67.00 target price on shares of Nike in a research report on Wednesday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 target price on shares of Nike in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $64.47.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the transaction, the executive vice president now owns 231,861 shares in the company, valued at approximately $13,389,972.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction on Friday, July 1st. The shares were bought at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the purchase, the director now directly owns 23,682 shares in the company, valued at approximately $1,304,641.38. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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