Boston Advisors LLC decreased its stake in shares of Nike Inc. (NYSE:NKE) by 13.1% during the second quarter, Holdings Channel reports. The institutional investor owned 12,844 shares of the footwear maker’s stock after selling 1,940 shares during the period. Boston Advisors LLC’s holdings in Nike were worth $709,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. CapWealth Advisors LLC raised its stake in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after buying an additional 1,100 shares in the last quarter. Cribstone Capital Management LLC purchased a new stake in Nike during the second quarter valued at $106,000. Brick & Kyle Associates raised its stake in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock valued at $111,000 after buying an additional 200 shares in the last quarter. Gierl Augustine Investment Management Inc raised its stake 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 valued at $111,000 after buying an additional 6 shares in the last quarter. Finally, CWM LLC raised its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock valued at $123,000 after buying an additional 7 shares in the last quarter. Institutional investors own 62.04% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 1.01% during mid-day trading on Tuesday, reaching $52.14. The company’s stock had a trading volume of 10,737,412 shares. Nike Inc. has a one year low of $51.48 and a one year high of $68.19. The stock has a 50 day moving average of $56.27 and a 200-day moving average of $56.98. The stock has a market cap of $87.18 billion, a P/E ratio of 23.53 and a beta of 0.56.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company earned $9.06 billion during the quarter. During the same quarter in the prior year, the company earned $1.34 EPS. The business’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts expect that Nike Inc. will post $2.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.23%. Nike’s dividend payout ratio is presently 28.83%.
Several research firms recently weighed in on NKE. Vetr lowered Nike from a “hold” rating to a “sell” rating and set a $54.86 price target on the stock. in a research report on Monday, July 11th. Barclays PLC set a $70.00 price target on Nike and gave the company a “buy” rating in a research report on Monday, September 12th. Citigroup Inc. boosted their target price on Nike from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, September 28th. B. Riley reissued a “neutral” rating and issued a $55.00 target price (down from $62.00) on shares of Nike in a report on Monday, September 26th. Finally, OTR Global downgraded Nike to a “positive” rating in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $64.54.
In other news, EVP John F. Slusher sold 72,696 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc. (NYSE:NKE).
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.