Sequoia Financial Advisors LLC Increases Stake in Nike Inc. (NKE)
Sequoia Financial Advisors LLC raised its position in Nike Inc. (NYSE:NKE) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 174,325 shares of the footwear maker’s stock after buying an additional 68 shares during the period. Nike comprises about 2.7% of Sequoia Financial Advisors LLC’s holdings, making the stock its 6th largest position. Sequoia Financial Advisors LLC’s holdings in Nike were worth $9,623,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of NKE. CapWealth Advisors LLC boosted its position in 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 during the period. Cribstone Capital Management LLC purchased a new position in shares of Nike during the second quarter worth about $106,000. 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 during the last quarter. 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 during the last quarter. Finally, Oakworth Capital Inc. boosted its position in shares of Nike by 78.9% in the second quarter. Oakworth Capital Inc. now owns 2,720 shares of the footwear maker’s stock worth $150,000 after buying an additional 1,200 shares during the last quarter. 62.08% of the stock is owned by institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded up 0.37% during trading on Tuesday, reaching $51.22. 6,737,908 shares of the company were exchanged. The firm has a market capitalization of $85.64 billion, a PE ratio of 23.11 and a beta of 0.56. Nike Inc. has a 1-year low of $50.96 and a 1-year high of $68.19. The company’s 50-day moving average is $54.56 and its 200 day moving average is $56.33.
Nike (NYSE:NKE) last issued its 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. 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 business’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. 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 given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.
A number of brokerages have issued reports on NKE. B. Riley reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nike in a report on Monday, June 27th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Nike in a report on Sunday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 target price on shares of Nike in a report on Tuesday. Brean Capital reaffirmed a “hold” rating on shares of Nike in a report on Tuesday. Finally, Canaccord Genuity reaffirmed a “neutral” rating and issued a $56.00 target price (down previously from $57.00) on shares of Nike in a report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. Nike currently has a consensus rating of “Buy” and a consensus price target of $63.99.
In related news, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the acquisition, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The disclosure for this purchase 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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