Raub Brock Capital Management LP reduced its stake in Nike Inc. (NYSE:NKE) by 9.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 240,458 shares of the footwear maker’s stock after selling 26,487 shares during the period. Nike accounts for about 4.0% of Raub Brock Capital Management LP’s portfolio, making the stock its 9th largest position. Raub Brock Capital Management LP’s holdings in Nike were worth $13,273,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Wealth Partners LLC increased its stake in shares of Nike by 1.1% in the second quarter. Private Wealth Partners LLC now owns 9,140 shares of the footwear maker’s stock valued at $505,000 after buying an additional 100 shares during the last quarter. Crossvault Capital Management LLC increased its stake in shares of Nike by 9.8% in the second quarter. Crossvault Capital Management LLC now owns 93,944 shares of the footwear maker’s stock valued at $5,186,000 after buying an additional 8,400 shares during the last quarter. First National Trust Co. increased its stake in shares of Nike by 3.5% in the second quarter. First National Trust Co. now owns 30,183 shares of the footwear maker’s stock valued at $1,666,000 after buying an additional 1,012 shares during the last quarter. Carmignac Gestion purchased a new stake in shares of Nike during the second quarter valued at approximately $116,633,000. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Nike by 11.1% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 220,355 shares of the footwear maker’s stock valued at $12,164,000 after buying an additional 21,982 shares during the last quarter. Institutional investors and hedge funds own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) traded down 0.04% during trading on Wednesday, hitting $52.12. 7,244,125 shares of the company traded hands. The company’s 50-day moving average is $56.14 and its 200 day moving average is $56.95. Nike Inc. has a 52-week low of $51.48 and a 52-week high of $68.19. The firm has a market cap of $87.14 billion, a price-to-earnings ratio of 23.52 and a beta of 0.56.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The firm had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.34 EPS. On average, equities analysts anticipate that Nike Inc. will post $2.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued 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 (DPR) is 28.83%.
NKE has been the topic of several recent analyst reports. Robert W. Baird restated an “outperform” rating and set a $67.00 price objective on shares of Nike in a research report on Wednesday, July 6th. Stifel Nicolaus restated a “buy” rating and set a $68.00 price objective on shares of Nike in a research report on Friday, August 26th. JPMorgan Chase & Co. restated an “overweight” rating and set a $62.00 price objective on shares of Nike in a research report on Tuesday, September 27th. Vetr downgraded shares of Nike from a “hold” rating to a “sell” rating and set a $54.43 price objective on the stock. in a research report on Monday, August 15th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $66.00 price objective on shares of Nike in a research report on Sunday, September 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average price target of $64.54.
In related news, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction on Friday, September 30th. The shares were bought at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now owns 27,560 shares in the company, valued at $1,452,963.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 310,795 shares in the company, 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 corporate insiders.
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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