Schmidt P J Investment Management Inc. Boosts Stake in Nike Inc. (NKE)
Schmidt P J Investment Management Inc. increased its position in Nike Inc. (NYSE:NKE) by 36.9% during the second quarter, Holdings Channel reports. The firm owned 73,672 shares of the footwear maker’s stock after buying an additional 19,845 shares during the period. Nike makes up 1.5% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Schmidt P J Investment Management Inc.’s holdings in Nike were worth $4,067,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. increased its position in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares in the last quarter. Wellington Management Group LLP increased its position in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Ameriprise Financial Inc. increased its position in Nike by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 13,141,313 shares of the footwear maker’s stock worth $725,254,000 after buying an additional 619,253 shares in the last quarter. BlackRock Group LTD increased its position in Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock worth $726,236,000 after buying an additional 177,028 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock worth $711,300,000 after buying an additional 628,853 shares in the last quarter. 62.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nike Inc. (NYSE:NKE) traded up 0.51% during midday trading on Thursday, hitting $55.62. 2,898,508 shares of the company’s stock were exchanged. The stock has a market cap of $93.31 billion, a PE ratio of 25.75 and a beta of 0.52. Nike Inc. has a 1-year low of $51.48 and a 1-year high of $68.19. The stock’s 50 day moving average is $56.82 and its 200-day moving average is $57.46.
Nike (NYSE:NKE) last released its earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $8.28 billion. During the same period last year, the company earned $0.49 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts predict that Nike Inc. will post $2.40 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. Nike’s dividend payout ratio is presently 29.63%.
A number of equities analysts have recently issued reports on NKE shares. Brean Capital dropped their price objective on shares of Nike from $68.00 to $62.00 in a research note on Wednesday, June 29th. Deutsche Bank AG reiterated a “buy” rating on shares of Nike in a research note on Tuesday, May 31st. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 price objective on the stock. in a research note on Monday, June 13th. Credit Suisse Group AG restated a “buy” rating and issued a $68.00 target price on shares of Nike in a research note on Thursday, June 16th. Finally, Jefferies Group restated a “buy” rating and issued a $67.00 target price (down from $74.00) on shares of Nike in a research note on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock 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 the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $56.99, for a total value of $5,699,000.00. Following the sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now directly owns 231,861 shares in the company, valued at $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
Nike Company Profile
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.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc. (NYSE:NKE).
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.