Huntington National Bank Has $37,745,000 Position in Nike Inc. (NKE)
Huntington National Bank raised its stake in shares of Nike Inc. (NYSE:NKE) by 110.9% during the second quarter, Holdings Channel reports. The fund owned 683,776 shares of the footwear maker’s stock after buying an additional 359,609 shares during the period. Nike makes up about 0.9% of Huntington National Bank’s portfolio, making the stock its 24th largest position. Huntington National Bank’s holdings in Nike were worth $37,745,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of NKE. Wellington Management Group LLP boosted its stake in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the last quarter. Vontobel Asset Management Inc. acquired a new stake in shares of Nike during the second quarter valued at approximately $175,750,000. Alecta Pensionsforsakring Omsesidigt boosted its stake in shares of Nike by 161.5% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,210,000 shares of the footwear maker’s stock valued at $232,392,000 after buying an additional 2,600,000 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Nike during the second quarter valued at approximately $116,633,000. Finally, Geode Capital Management LLC boosted its stake in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock valued at $711,300,000 after buying an additional 628,853 shares during the last quarter. Institutional investors own 62.04% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded up 0.06% during trading on Tuesday, reaching $51.82. 9,076,287 shares of the company were exchanged. The stock has a market capitalization of $86.64 billion, a PE ratio of 23.38 and a beta of 0.56. The stock has a 50-day moving average price of $55.64 and a 200-day moving average price of $56.65. Nike Inc. has a one year low of $51.48 and a one year high of $68.19.
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 Zacks’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The business earned $9.06 billion during the quarter. During the same period in the prior year, the firm earned $1.34 EPS. Nike’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts forecast that Nike Inc. will post $2.38 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. Nike’s dividend payout ratio is presently 28.83%.
Several analysts have commented on NKE shares. Robert W. Baird reiterated an “outperform” rating and set a $67.00 target price on shares of Nike in a research report on Wednesday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target on shares of Nike in a report on Friday, August 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $62.00 price target on shares of Nike in a report on Tuesday, September 27th. Vetr lowered shares of Nike from a “hold” rating to a “sell” rating and set a $54.43 price target for the company. in a report on Monday, August 15th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $66.00 price target on shares of Nike in a report on Sunday, September 25th. One 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 presently has a consensus rating of “Buy” and a consensus price target of $63.82.
In related news, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction on Friday, September 30th. The stock was acquired at an average price of $52.72 per share, with a total value of $52,720.00. Following the purchase, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the business’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 transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company 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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