Exane Derivatives Buys 4,330 Shares of Nike, Inc. (NKE)
Exane Derivatives increased its position in shares of Nike, Inc. (NYSE:NKE) by 13.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 36,923 shares of the footwear maker’s stock after buying an additional 4,330 shares during the period. Exane Derivatives’ holdings in Nike were worth $2,178,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Wealth Management LLC bought a new position in shares of Nike during the second quarter worth about $100,000. Crestwood Advisors Group LLC bought a new position in shares of Nike during the first quarter worth about $117,000. Webster Bank N. A. boosted its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the period. Gierl Augustine Investment Management Inc boosted its position in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares during the period. Finally, Asset Planning Services Ltd. bought a new position in shares of Nike during the first quarter worth about $118,000. 63.98% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nike, Inc. (NYSE NKE) opened at 57.77 on Thursday. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.33. The firm has a 50-day moving average of $54.84 and a 200-day moving average of $54.89. The company has a market cap of $95.14 billion, a P/E ratio of 23.02 and a beta of 0.60.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. Equities research analysts forecast that Nike, Inc. will post $2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Monday, June 5th were issued a $0.18 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.25%. Nike’s dividend payout ratio is currently 28.69%.
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A number of research analysts have recently issued reports on the company. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a research note on Saturday, July 1st. MKM Partners reaffirmed a “buy” rating on shares of Nike in a research note on Wednesday, March 22nd. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Citigroup Inc. reaffirmed a “buy” rating and set a $60.00 price objective on shares of Nike in a research note on Wednesday, March 22nd. Finally, Vetr cut Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective on the stock. in a research note on Monday, June 5th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Nike has a consensus rating of “Hold” and an average price target of $60.70.
In related news, CAO Hilary K. Krane sold 28,072 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the transaction, the insider now directly owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 374,315 shares of company stock valued at $21,562,036. Corporate 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’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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