Montag & Caldwell LLC lowered its position in Nike Inc. (NYSE:NKE) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 768,331 shares of the footwear maker’s stock after selling 59,694 shares during the period. Montag & Caldwell LLC’s holdings in Nike were worth $42,412,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. BlackRock Institutional Trust Company N.A. increased its stake in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares during the period. Wellington Management Group LLP increased its stake in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the period. BlackRock Group LTD increased its stake in shares of Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock valued at $726,236,000 after buying an additional 177,028 shares during the period. Geode Capital Management LLC increased its stake in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock valued at $711,300,000 after buying an additional 628,853 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt increased its stake in shares of Nike by 161.5% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,210,000 shares of the footwear maker’s stock valued at $232,392,000 after buying an additional 2,600,000 shares during the period. 62.04% of the stock is currently owned by institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded down 0.46% on Friday, hitting $51.79. The stock had a trading volume of 8,404,624 shares. The firm has a market capitalization of $86.59 billion, a P/E ratio of 23.37 and a beta of 0.56. The company has a 50 day moving average of $56.00 and a 200-day moving average of $56.91. Nike Inc. has a 12-month low of $51.48 and a 12-month 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 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 in the prior year, the company earned $1.34 earnings per share. Equities analysts predict 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 $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.24%. Nike’s dividend payout ratio is currently 28.83%.
Several analysts recently commented on the company. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. B. Riley cut Nike from a “buy” rating to a “neutral” rating and raised their target price for the company from $58.66 to $62.00 in a research report on Friday, August 26th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Nike in a research report on Friday, August 26th. Brean Capital restated a “buy” rating and issued a $62.00 target price on shares of Nike in a research report on Sunday, August 21st. Finally, Vetr upgraded Nike from a “sell” rating to a “hold” rating and set a $56.94 target price on the stock in a research report on Monday, August 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $64.54.
In other news, EVP John F. Slusher sold 72,696 shares of the firm’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 directly owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction dated Friday, September 30th. The shares were acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the acquisition, the director now directly owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by company 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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