Sit Investment Associates Inc. reduced its stake in Nike, Inc. (NYSE:NKE) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,695 shares of the footwear maker’s stock after selling 12,275 shares during the period. Sit Investment Associates Inc.’s holdings in Nike were worth $5,233,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Round Table Services LLC increased its stake in shares of Nike by 12.7% in the second quarter. Round Table Services LLC now owns 4,089 shares of the footwear maker’s stock valued at $241,000 after buying an additional 460 shares in the last quarter. Profit Investment Management LLC increased its stake in shares of Nike by 1.1% in the second quarter. Profit Investment Management LLC now owns 23,980 shares of the footwear maker’s stock valued at $1,415,000 after buying an additional 266 shares in the last quarter. Augustine Asset Management Inc. increased its stake in shares of Nike by 2.0% in the second quarter. Augustine Asset Management Inc. now owns 60,133 shares of the footwear maker’s stock valued at $3,547,000 after buying an additional 1,203 shares in the last quarter. Maple Capital Management Inc. acquired a new stake in shares of Nike during the second quarter valued at about $215,000. Finally, Aperio Group LLC increased its stake in shares of Nike by 5.8% in the second quarter. Aperio Group LLC now owns 840,531 shares of the footwear maker’s stock valued at $49,591,000 after buying an additional 45,748 shares in the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.
Nike, Inc. (NYSE NKE) traded down 0.17% during midday trading on Friday, hitting $58.97. The stock had a trading volume of 4,979,994 shares. The company has a market capitalization of $96.90 billion, a PE ratio of 23.49 and a beta of 0.59. The company’s 50-day moving average price is $57.96 and its 200 day moving average price is $55.61. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the prior year, the company earned $0.49 EPS. Nike’s revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Nike, Inc. will post $2.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is 28.69%.
Several brokerages recently issued reports on NKE. Cowen and Company set a $54.00 price objective on Nike and gave the stock a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies reissued a “buy” rating on shares of Nike in a research note on Thursday, July 27th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Guggenheim reissued a “buy” rating and issued a $70.00 price objective on shares of Nike in a research note on Monday, July 24th. Finally, Stifel Nicolaus set a $66.00 price objective on Nike and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $61.04.
In other news, CFO Andrew Campion sold 96,243 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now directly owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the transaction, the insider now owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock valued at $28,485,174 over the last quarter. 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’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.
What are top analysts saying about Nike Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Nike Inc. and related companies.