Private Wealth Partners LLC increased its position in shares of Nike Inc. (NYSE:NKE) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 9,140 shares of the footwear maker’s stock after buying an additional 100 shares during the period. Private Wealth Partners LLC’s holdings in Nike were worth $505,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NKE. Capstone Asset Management Co. increased its position in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. Dividend Assets Capital LLC increased its position in shares of Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock valued at $94,538,000 after buying an additional 43,935 shares during the last quarter. Carmignac Gestion acquired a new position in shares of Nike during the second quarter valued at approximately $116,633,000. National Pension Service increased its position in shares of Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock valued at $43,599,000 after buying an additional 27,918 shares during the last quarter. Finally, Gofen & Glossberg LLC IL increased its position in shares of Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock valued at $16,806,000 after buying an additional 2,890 shares during the last quarter. 62.04% of the stock is owned by institutional investors and hedge funds.
Shares of Nike Inc. (NYSE:NKE) traded down 0.04% during trading on Wednesday, hitting $52.12. The company had a trading volume of 7,244,125 shares. The stock has a market capitalization of $87.14 billion, a P/E ratio of 23.52 and a beta of 0.56. The firm’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.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 earned $9.06 billion during the quarter. During the same period in the prior year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts anticipate that Nike Inc. will post $2.38 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
Several research analysts have commented on NKE shares. Brean Capital lowered their target price on Nike from $68.00 to $62.00 in a research note on Wednesday, June 29th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 target price for the company. in a research note on Monday, June 13th. B. Riley reissued a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Wednesday, June 22nd. BB&T Corp. reissued a “buy” rating and set a $70.00 target price (down previously from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Finally, Buckingham Research reissued a “buy” rating and set a $70.00 target price on shares of Nike in a research note on Tuesday, June 21st. One equities research 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. The company presently has a consensus rating of “Buy” and a consensus target price of $64.54.
In other Nike news, EVP Hilary K. Krane sold 100,000 shares of the business’s 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 completion of the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale 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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