ING Groep NV cut its position in Nike Inc. (NYSE:NKE) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,302 shares of the footwear maker’s stock after selling 201 shares during the period. ING Groep NV’s holdings in Nike were worth $734,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. CapWealth Advisors LLC increased its position in shares of 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 in the last quarter. Cribstone Capital Management LLC purchased a new position in shares of Nike during the second quarter worth approximately $106,000. Brick & Kyle Associates boosted its position in shares of 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 boosted its position in shares of 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 boosted its position in shares of 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. Hedge funds and other institutional investors own 62.04% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 0.46% during mid-day trading on Friday, reaching $51.79. 8,407,084 shares of the company were exchanged. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19. The company has a market capitalization of $86.59 billion, a price-to-earnings ratio of 23.37 and a beta of 0.56. The firm’s 50-day moving average is $55.84 and its 200-day moving average is $56.82.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm earned $9.06 billion during the quarter. During the same period in the prior year, the business posted $1.34 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio is 28.83%.
NKE has been the subject of several recent analyst reports. B. Riley reissued a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Monday, June 27th. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research note on Sunday, July 17th. Vetr raised Nike from a “sell” rating to a “hold” rating and set a $54.01 target price for the company in a research note on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 price target on Nike and gave the stock a “hold” rating in a research report on Thursday, September 22nd. Finally, FBR & Co restated a “hold” rating on shares of Nike in a research report on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.54.
In related 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 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 approximately $13,389,972.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 completion of the transaction, the executive vice president now directly 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 corporate 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.
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