Westpac Banking Corp trimmed its holdings in Nike, Inc. (NYSE:NKE) by 36.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 138,135 shares of the footwear maker’s stock after selling 79,420 shares during the period. Westpac Banking Corp’s holdings in Nike were worth $8,150,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. State Street Corp increased its stake in shares of Nike by 1.4% during the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock worth $3,319,086,000 after acquiring an additional 835,003 shares during the period. Wellington Management Group LLP increased its stake in shares of Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after acquiring an additional 2,375,447 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Nike by 9.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after acquiring an additional 1,130,409 shares during the period. Edgewood Management LLC increased its stake in shares of Nike by 3.9% during the first quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock worth $661,710,000 after acquiring an additional 441,507 shares during the period. Finally, Polen Capital Management LLC increased its stake in shares of Nike by 9.0% during the first quarter. Polen Capital Management LLC now owns 11,350,849 shares of the footwear maker’s stock worth $632,583,000 after acquiring an additional 940,716 shares during the period. 62.46% of the stock is owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NKE) opened at 54.99 on Wednesday. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company’s 50-day moving average is $52.99 and its 200-day moving average is $54.68. The firm has a market capitalization of $89.72 billion, a price-to-earnings ratio of 23.41 and a beta of 0.61.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the previous year, the company earned $0.73 earnings per share. Nike’s revenue for the quarter was up .1% on a year-over-year basis. On average, equities analysts forecast that Nike, Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Thursday, August 31st. Nike’s payout ratio is 30.64%.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares in the company, valued at $1,371,527. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.90% of the stock is currently owned by insiders.
NKE has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $66.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Morgan Stanley set a $68.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Thursday, July 20th. Nomura set a $62.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Monday, July 17th. Jefferies Group LLC set a $75.00 price target on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Finally, Guggenheim reiterated a “buy” rating and set a $70.00 price target on shares of Nike in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty have issued a buy rating to the stock. Nike currently has a consensus rating of “Hold” and a consensus target price of $58.93.
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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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