Nike Inc. (NKE) Position Lowered by Baker Ellis Asset Management LLC
Baker Ellis Asset Management LLC reduced its position in Nike Inc. (NYSE:NKE) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,328 shares of the footwear maker’s stock after selling 197 shares during the period. Baker Ellis Asset Management LLC’s holdings in Nike were worth $2,116,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. CapWealth Advisors LLC boosted its position in shares of 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 in the last quarter. Cribstone Capital Management LLC bought a new position in shares of Nike during the second quarter worth $106,000. Brick & Kyle Associates boosted its position in shares of 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 in the last quarter. Gierl Augustine Investment Management Inc boosted its position in shares of 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 in the last quarter. Finally, CWM LLC boosted its position in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
Nike Inc. (NYSE:NKE) traded down 0.46% during trading on Friday, reaching $51.79. The company’s stock had a trading volume of 8,396,264 shares. Nike Inc. has a 52-week low of $51.48 and a 52-week high of $68.19. The stock has a market cap of $86.59 billion, a price-to-earnings ratio of 23.37 and a beta of 0.56. The firm has a 50 day moving average price of $56.00 and a 200-day moving average price of $56.91.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company had revenue of $9.06 billion for the quarter. During the same quarter in the previous year, the business posted $1.34 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, analysts expect that Nike Inc. will post $2.38 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. Nike’s payout ratio is 28.83%.
A number of equities analysts recently weighed in on the company. Vetr cut Nike from a “hold” rating to a “sell” rating and set a $54.86 price target on the stock. in a research note on Monday, July 11th. Barclays PLC set a $70.00 target price on Nike and gave the company a “buy” rating in a research note on Monday, September 12th. Citigroup Inc. lifted their target price on Nike from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, September 28th. B. Riley reaffirmed a “neutral” rating and set a $55.00 target price (down previously from $62.00) on shares of Nike in a research note on Monday, September 26th. Finally, OTR Global cut Nike to a “positive” rating in a research note on Thursday, June 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.54.
In other news, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction on 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 transaction, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was acquired at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now owns 27,560 shares in the company, valued at approximately $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by 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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