Nike Inc. (NKE) Position Boosted by Alley Co LLC
Alley Co LLC raised its position in Nike Inc. (NYSE:NKE) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,042 shares of the footwear maker’s stock after buying an additional 2,123 shares during the period. Alley Co LLC’s holdings in Nike were worth $1,658,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in NKE. Capstone Asset Management Co. raised its stake in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the last quarter. Dividend Assets Capital LLC raised its stake in shares of Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 shares in the last quarter. Carmignac Gestion purchased a new stake in shares of Nike during the second quarter worth about $116,633,000. National Pension Service raised its stake in shares of Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares in the last quarter. Finally, Gofen & Glossberg LLC IL raised its stake in shares of Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares in the last quarter. 62.08% of the stock is owned by institutional investors and hedge funds.
Nike Inc. (NYSE:NKE) traded up 0.519% during trading on Tuesday, reaching $51.295. The company had a trading volume of 5,039,934 shares. The company has a market capitalization of $85.77 billion, a P/E ratio of 23.148 and a beta of 0.56. Nike Inc. has a 12 month low of $50.96 and a 12 month high of $68.20. The stock has a 50 day moving average of $54.56 and a 200-day moving average of $56.33.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the 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 business earned $9.06 billion during the quarter. During the same period in the prior year, the company earned $1.34 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that Nike Inc. will post $2.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio is 28.83%.
NKE has been the subject of a number of analyst reports. B. Riley reissued a “buy” rating and issued a $66.00 price objective on shares of Nike in a report on Monday, June 27th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Susquehanna reaffirmed a “positive” rating and set a $74.00 target price on shares of Nike in a research note on Wednesday, June 22nd. Cowen and Company reaffirmed a “buy” rating on shares of Nike in a research note on Wednesday, June 22nd. Finally, FBR & Co lowered their target price on shares of Nike from $63.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $63.99.
In related news, EVP John F. Slusher sold 72,696 shares of the 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 sale, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the 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 sale, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
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.
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