BigSur Wealth Management LLC decreased its position in Nike Inc (NYSE:NKE) by 11.1% during the 2nd quarter, Holdings Channel reports. The fund owned 8,000 shares of the footwear maker’s stock after selling 1,000 shares during the quarter. BigSur Wealth Management LLC’s holdings in Nike were worth $683,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC purchased a new position in Nike in the first quarter valued at approximately $25,000. Shamrock Asset Management LLC purchased a new position in Nike in the first quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. purchased a new position in Nike in the first quarter valued at approximately $25,000. Thor Advisors LLC purchased a new position in Nike in the first quarter valued at approximately $26,000. Finally, Mackey Komara & Dankovich LLC purchased a new position in Nike in the first quarter valued at approximately $30,000. 65.61% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the transaction, the director now directly owns 38,813 shares in the company, valued at approximately $3,292,894.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Hilary K. Krane sold 17,903 shares of Nike stock in a transaction on Friday, July 12th. The shares were sold at an average price of $88.70, for a total transaction of $1,587,996.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,003 shares of company stock worth $6,636,550. Insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The business had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. As a group, equities analysts forecast that Nike Inc will post 2.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date was Friday, May 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. Nike’s dividend payout ratio (DPR) is presently 35.34%.
Several brokerages have commented on NKE. Canaccord Genuity set a $52.00 price target on shares of Zillow Group and gave the company a “hold” rating in a research note on Wednesday, June 19th. Zacks Investment Research upgraded shares of GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Deutsche Bank set a $28.00 price target on shares of Colfax and gave the company a “hold” rating in a research note on Wednesday, July 10th. Piper Jaffray Companies set a $97.00 price target on shares of Nike and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Goldman Sachs Group lowered shares of Anaplan from a “buy” rating to a “neutral” rating and set a $53.20 price target on the stock. in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.86.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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