Wagner Bowman Management Corp decreased its position in shares of Nike, Inc. (NYSE:NKE) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,744 shares of the footwear maker’s stock after selling 1,569 shares during the period. Wagner Bowman Management Corp’s holdings in Nike were worth $2,934,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in NKE. Personal Capital Advisors Corp increased its stake in shares of Nike by 15.5% in the first quarter. Personal Capital Advisors Corp now owns 83,943 shares of the footwear maker’s stock worth $4,758,000 after buying an additional 11,288 shares during the period. Adviser Investments LLC bought a new stake in shares of Nike during the first quarter worth approximately $2,645,000. North Star Asset Management Inc. increased its stake in shares of Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after buying an additional 4,129 shares during the period. Summit Global Investments bought a new stake in shares of Nike during the first quarter worth approximately $508,000. Finally, Lederer & Associates Investment Counsel CA increased its stake in shares of Nike by 1.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 6,330 shares of the footwear maker’s stock worth $353,000 after buying an additional 90 shares during the period. Institutional investors own 63.47% of the company’s stock.
Nike, Inc. (NKE) traded down 4.52% during midday trading on Friday, hitting $54.86. 15,241,458 shares of the company traded hands. The company has a market capitalization of $90.15 billion, a price-to-earnings ratio of 21.86 and a beta of 0.59. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The stock’s 50-day moving average price is $58.59 and its 200 day moving average price is $55.75. Nike also was the target of unusually large options trading activity on Tuesday. Investors bought 10,309 put options on the stock. This is an increase of approximately 171% compared to the average daily volume of 3,808 put options.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. On average, equities analysts forecast that Nike, Inc. will post $2.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is 28.69%.
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NKE has been the subject of a number of recent research reports. Canaccord Genuity set a $51.00 price objective on Nike and gave the company a “hold” rating in a research report on Friday, May 26th. Cowen and Company set a $54.00 price objective on Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $58.44 price objective for the company. in a research report on Monday, April 24th. Nomura reiterated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Finally, Instinet reiterated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Two research 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’s stock. Nike presently has an average rating of “Buy” and an average target price of $61.04.
In other Nike news, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were 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 directly owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 in the last ninety days. 3.90% of the stock is currently owned by 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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