Other large investors have also recently added to or reduced their stakes in the company. Webster Bank N. A. increased its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of Nike during the first quarter valued at approximately $117,000. Gierl Augustine Investment Management Inc increased its position in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the last quarter. Asset Planning Services Ltd. bought a new position in shares of Nike during the first quarter valued at approximately $118,000. Finally, Rational Advisors LLC increased its position in shares of Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares during the last quarter. 64.28% of the stock is currently owned by institutional investors.
McKinley Carter Wealth Services Inc. lowered its stake in shares of Nike, Inc. (NYSE:NKE) by 1.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,010 shares of the footwear maker’s stock after selling 167 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Nike were worth $502,000 as of its most recent filing with the SEC.
Nike, Inc. (NYSE:NKE) opened at 59.84 on Wednesday. The stock has a market cap of $98.33 billion, a P/E ratio of 23.84 and a beta of 0.59. The company has a 50-day moving average price of $56.38 and a 200 day moving average price of $55.29. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.33.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 5th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, June 1st. Nike’s dividend payout ratio is currently 28.69%.
Several research analysts have commented on NKE shares. Nomura reaffirmed a “buy” rating and set a $60.00 target price on shares of Nike in a report on Friday, June 30th. J P Morgan Chase & Co downgraded Nike from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $61.00 to $58.00 in a report on Friday, June 16th. Telsey Advisory Group cut their target price on Nike from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. Cowen and Company lifted their target price on Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a report on Friday, June 30th. Finally, Bank of America Corporation reaffirmed a “sell” rating and set a $46.00 target price on shares of Nike in a report on Wednesday, April 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and an average target price of $61.04.
In related news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the sale, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the sale, the insider now owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
Nike Company Profile
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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