Nike, Inc. (NKE) Position Boosted by Eagle Ridge Investment Management

Eagle Ridge Investment Management raised its position in Nike, Inc. (NYSE:NKE) by 9.3% during the first quarter, Holdings Channel reports. The firm owned 126,975 shares of the footwear maker’s stock after buying an additional 10,820 shares during the period. Nike comprises 1.4% of Eagle Ridge Investment Management’s portfolio, making the stock its 29th largest position. Eagle Ridge Investment Management’s holdings in Nike were worth $7,076,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in NKE. Clarius Group LLC acquired a new position in shares of Nike during the fourth quarter worth about $111,000. Crestwood Advisors Group LLC purchased a new position in Nike during the first quarter worth $117,000. Webster Bank N. A. raised its position in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the period. Gierl Augustine Investment Management Inc raised its position in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the period. Finally, Asset Planning Services Ltd. purchased a new position in Nike during the first quarter worth $118,000. Institutional investors and hedge funds own 65.55% of the company’s stock.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Shares of Nike, Inc. (NYSE NKE) opened at 52.02 on Tuesday. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.33. The firm has a 50-day moving average price of $53.24 and a 200 day moving average price of $54.21. The firm has a market capitalization of $85.87 billion, a price-to-earnings ratio of 21.70 and a beta of 0.47.

Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 32.97% and a net margin of 12.02%. The firm had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts anticipate that Nike, Inc. will post $2.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th will be given a $0.18 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.72 annualized dividend and a yield of 1.38%. Nike’s payout ratio is 30.00%.

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A number of research firms recently weighed in on NKE. MKM Partners reiterated a “buy” rating on shares of Nike in a research report on Wednesday, March 22nd. BidaskClub upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Citigroup Inc. reiterated a “buy” rating and issued a $60.00 price objective on shares of Nike in a research report on Wednesday, March 22nd. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective on the stock. in a research report on Monday, June 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Nike from $68.00 to $66.00 and set a “buy” rating on the stock in a research report on Wednesday, March 22nd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Hold” and an average target price of $60.74.

In other Nike news, CAO Hilary K. Krane sold 65,000 shares of Nike stock in a transaction on Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total value of $3,640,000.00. Following the completion of the transaction, the chief accounting officer now owns 270,795 shares in the company, valued at approximately $15,164,520. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction on Friday, March 24th. The shares were sold at an average price of $55.67, for a total value of $2,783,500.00. Following the completion of the transaction, the insider now owns 300,108 shares of the company’s stock, valued at approximately $16,707,012.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,000 shares of company stock valued at $21,213,800. Corporate insiders own 3.90% of the company’s stock.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NKE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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