DekaBank Deutsche Girozentrale Buys 655,013 Shares of Nike Inc (NYSE:NKE)

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DekaBank Deutsche Girozentrale grew its stake in Nike Inc (NYSE:NKE) by 151.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,087,961 shares of the footwear maker’s stock after acquiring an additional 655,013 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Nike were worth $91,253,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in NKE. HCR Wealth Advisors raised its stake in shares of Nike by 1.8% in the second quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock worth $1,174,000 after purchasing an additional 250 shares during the last quarter. FMR LLC increased its position in Nike by 27.0% during the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after acquiring an additional 4,908,916 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Nike by 0.4% during the first quarter. Nisa Investment Advisors LLC now owns 505,176 shares of the footwear maker’s stock valued at $42,541,000 after acquiring an additional 2,100 shares during the last quarter. Rhumbline Advisers increased its position in Nike by 0.9% during the first quarter. Rhumbline Advisers now owns 2,227,033 shares of the footwear maker’s stock valued at $187,538,000 after acquiring an additional 19,393 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in Nike by 6.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 285,378 shares of the footwear maker’s stock valued at $24,032,000 after acquiring an additional 18,245 shares during the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on the company. Piper Jaffray Companies set a $97.00 price objective on Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Goldman Sachs Group set a $83.00 price target on Nike and gave the stock a “neutral” rating in a research report on Monday, July 1st. Stifel Nicolaus set a $96.00 price target on Nike and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a research report on Monday, May 27th. Finally, Credit Suisse Group restated a “buy” rating and issued a $97.00 price target on shares of Nike in a research report on Friday, June 28th. One research 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’s stock. Nike presently has an average rating of “Buy” and a consensus price target of $90.02.

In related news, CAO Hilary K. Krane sold 17,903 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $88.70, for a total transaction of $1,587,996.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the transaction, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 194,637 shares of company stock valued at $16,767,237. 3.80% of the stock is owned by corporate insiders.

Shares of Nike stock opened at $83.32 on Wednesday. The company’s 50 day moving average price is $85.37. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00. The company has a market capitalization of $128.45 billion, a price-to-earnings ratio of 33.46, a PEG ratio of 2.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the previous year, the company posted $0.69 earnings per share. Nike’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Nike Inc will post 2.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s payout ratio is presently 35.34%.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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