Comerica Securities Inc. raised its stake in shares of Nike, Inc. (NYSE:NKE) by 114.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,753 shares of the footwear maker’s stock after buying an additional 17,998 shares during the period. Comerica Securities Inc.’s holdings in Nike were worth $1,881,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. raised its position in shares of Nike by 41.0% in the fourth quarter. Macquarie Group Ltd. now owns 209,770 shares of the footwear maker’s stock valued at $10,663,000 after buying an additional 61,015 shares in the last quarter. West Oak Capital LLC raised its position in shares of Nike by 18.4% in the first quarter. West Oak Capital LLC now owns 3,513 shares of the footwear maker’s stock worth $196,000 after buying an additional 546 shares in the last quarter. Trust Co raised its position in shares of Nike by 6.0% in the fourth quarter. Trust Co now owns 8,764 shares of the footwear maker’s stock worth $445,000 after buying an additional 496 shares in the last quarter. Hills Bank & Trust Co. raised its position in shares of Nike by 0.6% in the first quarter. Hills Bank & Trust Co. now owns 82,021 shares of the footwear maker’s stock worth $4,571,000 after buying an additional 515 shares in the last quarter. Finally, Indiana Trust & Investment Management CO raised its position in shares of Nike by 0.7% in the first quarter. Indiana Trust & Investment Management CO now owns 35,255 shares of the footwear maker’s stock worth $1,965,000 after buying an additional 246 shares in the last quarter. 63.47% of the stock is currently owned by institutional investors.
Nike, Inc. (NYSE NKE) opened at 54.95 on Friday. The stock has a market cap of $90.29 billion, a price-to-earnings ratio of 21.89 and a beta of 0.59. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The firm’s 50 day moving average price is $58.64 and its 200-day moving average price is $55.77. Nike also saw some unusual options trading activity on Wednesday. Stock investors purchased 14,365 call options on the company. This is an increase of approximately 228% compared to the typical volume of 4,379 call options.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is presently 28.69%.
Several analysts recently commented on the company. Piper Jaffray Companies set a $50.00 target price on Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $54.16 price target on the stock. in a research report on Monday, June 5th. Robert W. Baird reiterated an “outperform” rating and set a $62.00 price target on shares of Nike in a research report on Friday, June 30th. Finally, Morgan Stanley reiterated a “neutral” rating and set a $56.00 price target on shares of Nike in a research report on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Nike presently has a consensus rating of “Buy” and an average price target of $61.04.
In related news, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the transaction, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is owned by company 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.
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