Raab & Moskowitz Asset Management LLC decreased its holdings in Nike, Inc. (NYSE:NKE) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,844 shares of the footwear maker’s stock after selling 572 shares during the quarter. Nike makes up approximately 1.1% of Raab & Moskowitz Asset Management LLC’s holdings, making the stock its 29th largest holding. Raab & Moskowitz Asset Management LLC’s holdings in Nike were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in shares of Nike by 4,252.6% in the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after purchasing an additional 16,237,557 shares in the last quarter. Capital World Investors lifted its stake in shares of Nike by 58.7% in the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Nike by 7,020.1% in the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after purchasing an additional 5,274,656 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of Nike in the 2nd quarter valued at about $226,588,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Nike by 25.5% in the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after purchasing an additional 3,033,280 shares in the last quarter. Institutional investors own 62.78% of the company’s stock.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the business earned $0.73 EPS. Nike’s revenue for the quarter was up .1% compared to the same quarter last year. equities research analysts anticipate that Nike, Inc. will post 2.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.34%. Nike’s payout ratio is currently 34.04%.
Several equities analysts have recently weighed in on the company. B. Riley reaffirmed a “neutral” rating on shares of Nike in a research note on Wednesday, November 1st. Jefferies Group reaffirmed a “hold” rating and issued a $48.00 price objective (down from $49.00) on shares of Nike in a research note on Wednesday, September 27th. Canaccord Genuity reaffirmed a “hold” rating and issued a $50.00 price objective (down from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $47.00 price objective (down from $54.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Saturday, September 30th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and nineteen have assigned a buy rating to the stock. Nike has an average rating of “Hold” and an average target price of $59.01.
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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.
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