Afam Capital Inc. raised its stake in Nike, Inc. (NYSE:NKE) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,109 shares of the footwear maker’s stock after purchasing an additional 2,435 shares during the period. Afam Capital Inc.’s holdings in Nike were worth $5,493,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Fiduciary Trust Co. boosted its holdings in shares of Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. boosted its holdings in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 23,450 shares during the period. Royal Bank of Scotland Group PLC boosted its holdings in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after acquiring an additional 12,201 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after acquiring an additional 4,030 shares during the period. Finally, North Star Asset Management Inc. boosted its holdings 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 valued at $3,162,000 after acquiring an additional 4,129 shares during the period. Institutional investors own 62.78% of the company’s stock.
NKE has been the subject of several recent research reports. Jefferies Group set a $75.00 price target on Nike and gave the stock a “buy” rating in a report on Tuesday, August 15th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target for the company. in a report on Monday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price target on shares of Nike in a report on Thursday, August 24th. Goldman Sachs Group reaffirmed a “buy” rating and set a $58.00 price target (down from $63.00) on shares of Nike in a report on Monday, August 21st. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $64.00 price target (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $59.01.
Shares of Nike, Inc. (NYSE NKE) traded down $0.70 during mid-day trading on Thursday, hitting $59.72. The stock had a trading volume of 7,862,100 shares, compared to its average volume of 9,579,083. Nike, Inc. has a twelve month low of $50.35 and a twelve month high of $61.21. The stock has a market capitalization of $98,576.25, a PE ratio of 25.71, a P/E/G ratio of 2.83 and a beta of 0.64. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the business posted $0.73 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. analysts forecast that Nike, Inc. will post 2.28 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 34.04%.
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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