Wealthsource Partners LLC lifted its position in shares of Nike Inc (NYSE:NKE) by 166.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,630 shares of the footwear maker’s stock after purchasing an additional 7,893 shares during the period. Wealthsource Partners LLC’s holdings in Nike were worth $1,060,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in NKE. Dimensional Fund Advisors LP increased its position in shares of Nike by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock worth $260,074,000 after purchasing an additional 69,032 shares in the last quarter. Cooper Haims Advisors LLC acquired a new stake in Nike during the 1st quarter worth about $2,036,000. Carlson Capital Management boosted its stake in shares of Nike by 11.7% during the 1st quarter. Carlson Capital Management now owns 4,084 shares of the footwear maker’s stock worth $344,000 after acquiring an additional 429 shares in the last quarter. First National Trust Co boosted its stake in shares of Nike by 12.2% during the 1st quarter. First National Trust Co now owns 64,022 shares of the footwear maker’s stock worth $5,392,000 after acquiring an additional 6,947 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in shares of Nike during the 1st quarter worth about $6,021,000. 66.41% of the stock is owned by institutional investors and hedge funds.
In related news, insider Elliott Hill sold 34,100 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total value of $3,012,394.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the completion of the sale, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 194,637 shares of company stock valued at $16,767,237. 3.80% of the stock is owned by corporate insiders.
Several equities research analysts have recently issued reports on the stock. Piper Jaffray Companies set a $97.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Macquarie set a $89.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Canaccord Genuity reissued a “buy” rating and issued a $96.00 price target on shares of Nike in a research report on Wednesday, June 19th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a research report on Monday, May 27th. Finally, Bank of America raised shares of Nike to an “underperform” rating and raised their price target for the company from $60.00 to $70.00 in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $90.33.
NKE traded down $0.66 on Monday, reaching $84.50. The company had a trading volume of 4,814,126 shares, compared to its average volume of 6,252,802. Nike Inc has a 1 year low of $66.53 and a 1 year high of $90.00. The stock has a market capitalization of $132.40 billion, a PE ratio of 33.94, a P/E/G ratio of 2.26 and a beta of 0.78. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $84.05 and a 200-day moving average price of $84.61.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The company had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the firm earned $0.69 earnings per share. Nike’s revenue was up 4.0% on a year-over-year basis. As a group, analysts expect that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.04%. Nike’s dividend payout ratio (DPR) is presently 35.34%.
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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