Sit Investment Associates Inc. reduced its position in Nike, Inc. (NYSE:NKE) by 12.2% during the second quarter, according to its most recent filing with the SEC. 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 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Perigon Wealth Management LLC boosted its position in shares of Nike by 14.2% in the fourth quarter. Perigon Wealth Management LLC now owns 40,734 shares of the footwear maker’s stock worth $2,310,000 after buying an additional 5,080 shares during the last quarter. HighPoint Advisor Group LLC boosted its position in shares of Nike by 56.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 11,126 shares of the footwear maker’s stock worth $645,000 after buying an additional 3,997 shares during the last quarter. Becker Capital Management Inc. bought a new position in shares of Nike during the fourth quarter worth approximately $20,996,000. Garde Capital Inc. boosted its position in shares of Nike by 122.6% in the fourth quarter. Garde Capital Inc. now owns 9,832 shares of the footwear maker’s stock worth $500,000 after buying an additional 5,416 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of Nike during the fourth quarter worth approximately $4,928,000. Institutional investors own 63.47% of the company’s stock.
Shares of Nike, Inc. (NKE) traded down 4.37% on Friday, hitting $54.95. The company had a trading volume of 22,905,183 shares. The firm’s 50 day moving average price is $58.64 and its 200-day moving average price is $55.77. The stock has a market capitalization of $90.29 billion, a PE 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. Nike also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 14,365 call options on the company. This represents an increase of 228% compared to the average volume of 4,379 call options.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. Analysts forecast that Nike, Inc. will post $2.42 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. Nike’s dividend payout ratio (DPR) is currently 28.69%.
A number of research analysts recently commented on NKE shares. Vetr cut Nike from a “buy” rating to a “hold” rating and set a $58.44 price target on the stock. in a research report on Monday, April 24th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Nike in a research note on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Nike in a research note on Friday, May 5th. Nomura reaffirmed a “buy” rating on shares of Nike in a research note on Monday, May 15th. Finally, Instinet reaffirmed a “buy” rating on shares of Nike in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the company. Nike has a consensus rating of “Buy” and a consensus 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 stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the transaction, the insider now directly owns 729,610 shares in the company, valued at $42,047,424.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of Nike 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 transaction, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 492,360 shares of company stock worth $28,485,174. Company insiders own 3.90% of the company’s stock.
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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