Quantitative Systematic Strategies LLC purchased a new position in Nike Inc. (NYSE:NKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,856 shares of the footwear maker’s stock, valued at approximately $378,000.
Several other hedge funds also recently added to or reduced their stakes in the company. CapWealth Advisors LLC increased its stake in 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 during the last quarter. Cribstone Capital Management LLC bought a new stake in Nike during the second quarter worth $106,000. Gierl Augustine Investment Management Inc increased its stake in 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. Banced Corp bought a new stake in Nike during the second quarter worth $258,000. Finally, CWM LLC increased its stake in 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. 62.04% of the stock is owned by institutional investors and hedge funds.
Nike Inc. (NYSE:NKE) traded down 0.79% during mid-day trading on Friday, hitting $51.62. The stock had a trading volume of 7,131,754 shares. The stock’s 50 day moving average price is $55.01 and its 200 day moving average price is $56.55. The firm has a market capitalization of $86.31 billion, a price-to-earnings ratio of 23.29 and a beta of 0.56. Nike Inc. has a one year low of $51.48 and a one year high of $68.19.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 earnings per share. Analysts forecast that Nike Inc. will post $2.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. Nike’s payout ratio is presently 28.83%.
Several brokerages recently issued reports on NKE. Canaccord Genuity reduced their price objective on Nike from $52.00 to $51.00 and set a “hold” rating on the stock in a research note on Thursday. Piper Jaffray Cos. restated a “neutral” rating and set a $53.00 price objective on shares of Nike in a research note on Wednesday. Susquehanna began coverage on Nike in a research note on Tuesday. They set a “positive” rating and a $63.00 price objective on the stock. Wells Fargo & Co. restated a “hold” rating on shares of Nike in a research note on Thursday, October 6th. Finally, B. Riley restated a “neutral” rating and set a $55.00 price objective on shares of Nike in a research note on Saturday, October 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $63.99.
In other news, Director John C. Lechleiter acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was 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 owns 27,560 shares in the company, valued at $1,452,963.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the transaction, the executive vice president now owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The disclosure for this sale can be found here. Corporate 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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