SRS Capital Advisors Inc. increased its stake in Nike, Inc. (NYSE:NKE) by 31.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,085 shares of the footwear maker’s stock after buying an additional 731 shares during the period. SRS Capital Advisors Inc.’s holdings in Nike were worth $171,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC acquired a new stake in Nike during the first quarter worth approximately $117,000. Webster Bank N. A. increased its stake in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Gierl Augustine Investment Management Inc boosted its stake in 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 period. Asset Planning Services Ltd. purchased a new stake in Nike during the first quarter valued at $118,000. Finally, Rational Advisors LLC boosted its stake in 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 period. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Nike, Inc. (NYSE:NKE) traded down 4.37% during trading on Friday, hitting $54.95. 22,905,183 shares of the stock traded hands. The stock has a market cap of $90.29 billion, a P/E ratio of 21.89 and a beta of 0.59. The firm’s 50-day moving average is $58.64 and its 200 day moving average is $55.77. 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 acquired 14,365 call options on the company. This is an increase of approximately 228% compared to the typical 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 for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.
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A number of research firms recently weighed in on NKE. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 22nd. Guggenheim reissued a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Barclays PLC restated an “overweight” rating and issued a $65.00 price objective on shares of Nike in a report on Friday, June 30th. 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’s stock. Nike has a consensus rating of “Buy” and an average price target of $61.04.
In related news, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Trevor A. Edwards sold 200,000 shares of the 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 completion of the sale, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. In the last quarter, insiders have 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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