Agran Libbie boosted its position in Nike Inc. (NYSE:NKE) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 39,041 shares of the footwear maker’s stock after buying an additional 1,307 shares during the period. Agran Libbie’s holdings in Nike were worth $2,155,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. CapWealth Advisors LLC increased its position in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Cribstone Capital Management LLC purchased a new position in Nike during the second quarter worth about $106,000. Brick & Kyle Associates increased its position in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Gierl Augustine Investment Management Inc increased its position in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the last quarter. Finally, CWM LLC increased its position in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the last quarter. 62.04% of the stock is currently owned by institutional investors and hedge funds.
Nike Inc. (NYSE:NKE) traded up 0.04% during midday trading on Monday, hitting $52.67. The company had a trading volume of 7,632,543 shares. Nike Inc. has a 52-week low of $51.48 and a 52-week high of $68.19. The stock has a 50 day moving average of $56.40 and a 200 day moving average of $57.06. The firm has a market cap of $88.06 billion, a price-to-earnings ratio of 23.77 and a beta of 0.56.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business had revenue of $9.06 billion for the quarter. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Nike Inc. will post $2.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, September 1st. Nike’s payout ratio is 28.83%.
A number of equities analysts have recently issued reports on NKE shares. Brean Capital dropped their price target on Nike from $68.00 to $62.00 in a research report on Wednesday, June 29th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 price objective on the stock. in a research report on Monday, June 13th. B. Riley reaffirmed a “buy” rating and set a $66.00 price objective on shares of Nike in a research report on Wednesday, June 22nd. BB&T Corp. reaffirmed a “buy” rating and set a $70.00 price objective (down previously from $74.00) on shares of Nike in a research report on Tuesday, June 21st. Finally, Buckingham Research reaffirmed a “buy” rating and set a $70.00 price objective on shares of Nike in a research report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.54.
In related news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the transaction, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the completion of the transaction, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. 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 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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