Smithfield Trust Co. maintained its stake in Nike Inc. (NYSE:NKE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,709 shares of the footwear maker’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in Nike were worth $1,033,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in 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 during the last quarter. Vontobel Asset Management Inc. bought a new stake in Nike during the second quarter worth approximately $175,750,000. Alecta Pensionsforsakring Omsesidigt raised its stake in 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 during the last quarter. Carmignac Gestion bought a new stake in Nike during the second quarter worth approximately $116,633,000. Finally, Geode Capital Management LLC raised its stake in 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 during the last quarter. 62.08% of the stock is owned by institutional investors and hedge funds.
Shares of Nike Inc. (NYSE:NKE) traded down 0.85% during mid-day trading on Monday, hitting $51.18. The company had a trading volume of 4,066,774 shares. The company has a 50-day moving average price of $54.79 and a 200-day moving average price of $56.49. The company has a market capitalization of $85.57 billion, a price-to-earnings ratio of 23.10 and a beta of 0.56. Nike Inc. has a 1-year low of $51.09 and a 1-year 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 (EPS) for the quarter, topping the 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 company had revenue of $9.06 billion for the quarter. During the same period last year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate 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 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 yield of 1.24%. Nike’s dividend payout ratio (DPR) is currently 28.83%.
NKE has been the subject of a number of analyst reports. Piper Jaffray Cos. reissued a “neutral” rating and issued a $53.00 price target on shares of Nike in a research report on Wednesday, October 12th. Robert W. Baird reissued an “outperform” rating and issued a $67.00 price target on shares of Nike in a research report on Wednesday, July 6th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Nike in a research note on Friday, August 26th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $62.00 price objective on shares of Nike in a research note on Tuesday, September 27th. Finally, Vetr downgraded Nike from a “hold” rating to a “sell” rating and set a $54.43 price objective for the company. in a research note on Monday, August 15th. One investment 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 stock. The company presently has an average rating of “Buy” and an average price target of $63.99.
In related news, Director John C. Lechleiter bought 1,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were acquired at an average price of $52.72 per share, with a total value of $52,720.00. Following the transaction, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is 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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