Nike Inc. (NKE) Shares Sold by Cardan Capital Partners LLC
Cardan Capital Partners LLC cut its position in shares of Nike Inc. (NYSE:NKE) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 52,638 shares of the footwear maker’s stock after selling 319 shares during the period. Cardan Capital Partners LLC’s holdings in Nike were worth $2,906,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its stake in shares of Nike by 17.1% in the first quarter. Glenmede Trust Co. NA now owns 1,443,866 shares of the footwear maker’s stock worth $88,753,000 after buying an additional 211,360 shares during the period. RKL Wealth Management LLC boosted its position in shares of Nike by 0.7% in the first quarter. RKL Wealth Management LLC now owns 87,744 shares of the footwear maker’s stock valued at $5,394,000 after buying an additional 614 shares during the last quarter. St. Johns Investment Management Company LLC boosted its position in shares of Nike by 1.8% in the first quarter. St. Johns Investment Management Company LLC now owns 17,444 shares of the footwear maker’s stock valued at $1,072,000 after buying an additional 302 shares during the last quarter. Chesley Taft & Associates LLC boosted its position in shares of Nike by 33.9% in the first quarter. Chesley Taft & Associates LLC now owns 118,979 shares of the footwear maker’s stock valued at $7,314,000 after buying an additional 30,145 shares during the last quarter. Finally, IMS Capital Management boosted its position in shares of Nike by 12.9% in the first quarter. IMS Capital Management now owns 5,983 shares of the footwear maker’s stock valued at $368,000 after buying an additional 685 shares during the last quarter. 62.04% of the stock is owned by hedge funds and other institutional investors.
Nike Inc. (NYSE:NKE) traded up 0.94% during mid-day trading on Friday, hitting $52.65. The company had a trading volume of 12,940,220 shares. The firm has a market capitalization of $88.03 billion, a PE ratio of 23.76 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 company has a 50 day moving average of $56.51 and a 200 day moving average of $57.20.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The company earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.34 EPS. Analysts predict that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The business also recently declared 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 is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio is currently 28.83%.
NKE has been the topic of several analyst reports. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 target price on the stock. in a research report on Monday, June 13th. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Wells Fargo & Co. reaffirmed a “hold” rating and set a $60.00 target price on shares of Nike in a research report on Wednesday, June 15th. OTR Global cut Nike to a “positive” rating in a research report on Thursday, June 16th. Finally, Brean Capital reaffirmed a “buy” rating on shares of Nike in a research report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. Nike currently has a consensus rating of “Buy” and a consensus target price of $64.35.
In related news, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the completion of the transaction, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the transaction, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
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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