Starfire Investment Advisers Inc. maintained its stake in shares of Nike Inc. (NYSE:NKE) during the second quarter, Holdings Channel reports. The institutional investor owned 4,500 shares of the footwear maker’s stock at the end of the second quarter. Starfire Investment Advisers Inc.’s holdings in Nike were worth $248,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. 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 worth $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Vontobel Asset Management Inc. purchased a new stake in shares of Nike during the second quarter worth approximately $175,750,000. 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 worth $232,392,000 after buying an additional 2,600,000 shares in the last quarter. Carmignac Gestion purchased a new stake in shares of Nike during the second quarter worth approximately $116,633,000. Finally, 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 worth $711,300,000 after buying an additional 628,853 shares in the last quarter. Institutional investors own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) traded down 0.31% during midday trading on Tuesday, reaching $51.63. The company’s stock had a trading volume of 5,293,708 shares. The company has a market cap of $86.33 billion, a PE ratio of 23.30 and a beta of 0.56. The stock has a 50-day moving average price of $55.64 and a 200 day moving average price of $56.65. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. The business 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%. Nike’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 EPS. Analysts expect that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. Nike’s dividend payout ratio is presently 28.83%.
NKE has been the subject of a number of research reports. Robert W. Baird reiterated an “outperform” rating and issued a $67.00 price objective on shares of Nike in a research report on Wednesday, July 6th. Stifel Nicolaus reiterated a “buy” rating and issued 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 target price on shares of Nike in a research report on Tuesday, September 27th. Vetr downgraded Nike from a “hold” rating to a “sell” rating and set a $54.43 target price for the company. in a research report on Monday, August 15th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $66.00 target price 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 given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $63.82.
In other news, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $56.99, for a total value of $5,699,000.00. Following the transaction, the executive vice president now owns 310,795 shares in the company, valued at $17,712,207.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Lechleiter bought 1,000 shares of the company’s stock in a transaction dated Friday, September 30th. The stock was purchased at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now 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 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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