LS Investment Advisors LLC Purchases 7,574 Shares of Nike Inc. (NKE)
LS Investment Advisors LLC increased its position in shares of Nike Inc. (NYSE:NKE) by 27.7% during the second quarter, Holdings Channel reports. The firm owned 34,927 shares of the footwear maker’s stock after buying an additional 7,574 shares during the period. LS Investment Advisors LLC’s holdings in Nike were worth $1,928,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in NKE. Aperio Group LLC increased its position in Nike by 3.0% in the first quarter. Aperio Group LLC now owns 793,551 shares of the footwear maker’s stock worth $48,780,000 after buying an additional 23,289 shares during the period. Mn Services Vermogensbeheer B.V. bought a new position in Nike during the first quarter worth about $1,833,000. Buffington Mohr McNeal increased its position in Nike by 250.0% in the first quarter. Buffington Mohr McNeal now owns 5,600 shares of the footwear maker’s stock worth $344,000 after buying an additional 4,000 shares during the period. Alexandria Capital LLC increased its position in Nike by 194.8% in the first quarter. Alexandria Capital LLC now owns 190,476 shares of the footwear maker’s stock worth $11,709,000 after buying an additional 125,857 shares during the period. Finally, Nisa Investment Advisors L.L.C. increased its position in Nike by 3.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 493,008 shares of the footwear maker’s stock worth $30,305,000 after buying an additional 16,950 shares during the period. Institutional investors and hedge funds own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) traded down 0.46% during mid-day trading on Friday, reaching $51.79. 8,407,084 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $55.84 and its 200 day moving average price is $56.82. The firm has a market cap of $86.59 billion, a price-to-earnings ratio of 23.37 and a beta of 0.56. Nike Inc. has a one year low of $51.48 and a one year high of $68.19.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The business had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. On average, equities analysts forecast that Nike Inc. will post $2.38 EPS 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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
A number of equities analysts have issued reports on NKE shares. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $61.63 price target for the company. in a research note on Monday, June 13th. Zacks Investment Research downgraded Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. Wells Fargo & Co. restated a “hold” rating and issued a $60.00 target price on shares of Nike in a research note on Wednesday, June 15th. OTR Global downgraded Nike to a “positive” rating in a research note on Thursday, June 16th. Finally, Brean Capital restated a “buy” rating on shares of Nike in a research note on Thursday, June 16th. One equities research 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. Nike currently has a consensus rating of “Buy” and a consensus price target of $64.54.
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 transaction, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were purchased 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. 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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