Dohj LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 4.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 13,525 shares of the footwear maker’s stock after selling 669 shares during the quarter. Dohj LLC’s holdings in NIKE were worth $2,089,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Parnassus Investments CA acquired a new stake in shares of NIKE in the 2nd quarter valued at $553,035,000. Alliancebernstein L.P. raised its holdings in shares of NIKE by 15.2% in the 2nd quarter. Alliancebernstein L.P. now owns 23,084,530 shares of the footwear maker’s stock valued at $3,566,329,000 after purchasing an additional 3,045,282 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in shares of NIKE in the 1st quarter valued at $223,388,000. BlackRock Inc. grew its position in shares of NIKE by 1.6% in the 1st quarter. BlackRock Inc. now owns 94,636,902 shares of the footwear maker’s stock valued at $12,576,298,000 after buying an additional 1,528,211 shares during the last quarter. Finally, Standard Life Aberdeen plc grew its position in shares of NIKE by 93.3% in the 1st quarter. Standard Life Aberdeen plc now owns 2,073,036 shares of the footwear maker’s stock valued at $275,765,000 after buying an additional 1,000,473 shares during the last quarter. Hedge funds and other institutional investors own 64.45% of the company’s stock.
In other news, Chairman Mark G. Parker sold 140,000 shares of the business’s stock in a transaction on Thursday, July 8th. The shares were sold at an average price of $160.16, for a total transaction of $22,422,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Hilary K. Krane sold 21,500 shares of the business’s stock in a transaction on Friday, June 25th. The stock was sold at an average price of $153.16, for a total transaction of $3,292,940.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 379,671 shares of company stock valued at $60,634,427. 3.70% of the stock is owned by insiders.
NIKE (NYSE:NKE) last released its quarterly earnings data on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.42. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The company had revenue of $12.30 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the firm earned ($0.51) earnings per share. NIKE’s revenue for the quarter was up 94.8% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 4.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be paid a dividend of $0.275 per share. The ex-dividend date is Friday, August 27th. This represents a $1.10 annualized dividend and a yield of 0.70%. NIKE’s dividend payout ratio is currently 30.90%.
A number of research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of NIKE from $192.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, June 25th. Pivotal Research increased their target price on shares of NIKE from $167.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, June 25th. KGI Securities began coverage on shares of NIKE in a research report on Tuesday, July 6th. They set an “outperform” rating on the stock. Guggenheim raised their price objective on shares of NIKE from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, June 25th. Finally, Telsey Advisory Group raised their price objective on shares of NIKE from $160.00 to $180.00 in a research report on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, NIKE currently has a consensus rating of “Buy” and an average price target of $173.26.
NIKE Company Profile
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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