Sheaff Brock Investment Advisors LLC reduced its stake in Nike Inc (NYSE:NKE) by 12.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,595 shares of the footwear maker’s stock after selling 6,004 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Nike were worth $3,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of Nike by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock valued at $260,074,000 after acquiring an additional 69,032 shares during the period. Pacer Advisors Inc. grew its position in shares of Nike by 24,958.8% in the 1st quarter. Pacer Advisors Inc. now owns 106,500 shares of the footwear maker’s stock valued at $8,968,000 after acquiring an additional 106,075 shares during the period. DNB Asset Management AS grew its position in shares of Nike by 9.2% in the 1st quarter. DNB Asset Management AS now owns 1,049,178 shares of the footwear maker’s stock valued at $88,351,000 after acquiring an additional 88,313 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in shares of Nike by 244.6% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 202,748 shares of the footwear maker’s stock valued at $17,073,000 after acquiring an additional 143,911 shares during the period. Finally, Chartwell Investment Partners LLC grew its position in shares of Nike by 8.0% in the 1st quarter. Chartwell Investment Partners LLC now owns 107,897 shares of the footwear maker’s stock valued at $9,086,000 after acquiring an additional 8,000 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on NKE. Morgan Stanley lifted their price objective on shares of Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Goldman Sachs Group set a $83.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Monday, July 1st. Stifel Nicolaus set a $96.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, August 7th. Deutsche Bank set a $100.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Bank of America raised shares of Nike to an “underperform” rating and lifted their target price for the stock from $60.00 to $70.00 in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $90.02.
NYSE NKE traded up $1.55 during trading on Tuesday, reaching $83.20. The company’s stock had a trading volume of 4,702,718 shares, compared to its average volume of 5,893,064. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. The stock has a market cap of $128.45 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00. The company has a 50 day moving average of $85.43.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.04). The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. As a group, research analysts anticipate that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s dividend payout ratio is currently 35.34%.
In other news, EVP John F. Slusher sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $85.26, for a total value of $9,378,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 3,228 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $87.07, for a total transaction of $281,061.96. The disclosure for this sale can be found here. Insiders sold a total of 194,637 shares of company stock valued at $16,767,237 in the last three months. Insiders own 3.80% of the company’s stock.
Nike Company Profile
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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