L & S Advisors Inc lowered its stake in shares of Nike Inc (NYSE:NKE) by 36.8% in the second quarter, Holdings Channel reports. The firm owned 61,874 shares of the footwear maker’s stock after selling 36,045 shares during the period. L & S Advisors Inc’s holdings in Nike were worth $5,194,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Ibex Wealth Advisors bought a new position in shares of Nike in the first quarter worth $1,599,000. Menta Capital LLC bought a new stake in Nike during the first quarter valued at $286,000. Icon Advisers Inc. Co. boosted its stake in Nike by 10.9% during the first quarter. Icon Advisers Inc. Co. now owns 193,453 shares of the footwear maker’s stock valued at $16,291,000 after buying an additional 19,030 shares during the period. Oliver Luxxe Assets LLC bought a new stake in Nike during the first quarter valued at $212,000. Finally, Shulman DeMeo Asset Management LLC bought a new stake in Nike during the first quarter valued at $210,000. 65.09% of the stock is owned by institutional investors and hedge funds.
In other news, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the transaction, the director now owns 38,813 shares in the company, valued at $3,292,894.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Elliott Hill sold 34,100 shares of Nike stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total value of $3,012,394.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,637 shares of company stock worth $16,767,237. Company insiders own 3.80% of the company’s stock.
Several equities research analysts recently issued reports on NKE shares. Guggenheim reissued a “buy” rating and set a $100.00 price objective on shares of Nike in a research note on Friday, August 23rd. Macquarie set a $89.00 price objective on Nike and gave the company a “buy” rating in a research note on Friday, June 28th. Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a research note on Friday, June 28th. Deutsche Bank set a $100.00 price objective on Nike and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Wedbush reissued an “outperform” rating and set a $96.00 price objective on shares of Nike in a research note on Tuesday. 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 a consensus rating of “Buy” and an average target price of $90.39.
NKE opened at $88.48 on Friday. The company has a market cap of $136.05 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.30 and a beta of 0.79. The business’s 50-day moving average price is $83.77 and its 200-day moving average price is $84.72. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The company had revenue of $10.18 billion during 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 firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities research analysts forecast that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 0.99%. Nike’s dividend payout ratio is currently 35.34%.
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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