Nike Inc. (NKE) Position Cut by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lowered its position in shares of Nike Inc. (NYSE:NKE) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,427,275 shares of the footwear maker’s stock after selling 11,001 shares during the period. Dimensional Fund Advisors LP owned approximately 0.14% of Nike worth $133,987,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CapWealth Advisors LLC raised its position in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Brick & Kyle Associates raised its position in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Cribstone Capital Management LLC acquired a new position in Nike during the second quarter worth approximately $106,000. Gierl Augustine Investment Management Inc raised its position in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the last quarter. Finally, Banced Corp acquired a new position in Nike during the second quarter worth approximately $258,000. 62.04% of the stock is owned by institutional investors and hedge funds.
Shares of Nike Inc. (NYSE:NKE) traded up 0.497% on Thursday, hitting $55.615. The company’s stock had a trading volume of 2,637,910 shares. The stock has a 50-day moving average price of $56.82 and a 200 day moving average price of $57.46. The firm has a market cap of $93.30 billion, a price-to-earnings ratio of 25.748 and a beta of 0.52. Nike Inc. has a one year low of $51.48 and a one year high of $68.20.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.01. Nike had a net margin of 11.61% and a return on equity of 29.57%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 6.0% on a year-over-year basis. Equities research analysts predict that Nike Inc. will post $2.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.16 dividend. The ex-dividend date is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Nike’s payout ratio is 29.63%.
A number of research firms have commented on NKE. B. Riley reaffirmed a “buy” rating and set a $66.00 price target on shares of Nike in a research report on Monday, June 27th. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research report on Sunday, July 17th. Vetr raised Nike from a “sell” rating to a “hold” rating and set a $54.01 target price for the company in a research report on Wednesday, August 3rd. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, FBR & Co reissued a “hold” rating on shares of Nike in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.63.
In related news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the purchase, the director now directly owns 23,682 shares in the company, valued at $1,304,641.38. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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