Nike, Inc. (NYSE:NKE) Position Boosted by Bartlett & Co. LLC
Bartlett & Co. LLC boosted its position in shares of Nike, Inc. (NYSE:NKE) by 33.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381,635 shares of the footwear maker’s stock after buying an additional 95,120 shares during the period. Bartlett & Co. LLC’s holdings in Nike were worth $22,516,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. Baltimore Washington Financial Advisors Inc. purchased a new stake in Nike during the fourth quarter worth $10,508,000. V Wealth Management LLC purchased a new stake in Nike during the second quarter worth $100,000. Webster Bank N. A. raised its stake in 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 last quarter. Crestwood Advisors Group LLC purchased a new stake in Nike during the first quarter worth $117,000. Finally, Gierl Augustine Investment Management Inc raised its stake in 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 last quarter. 64.17% of the stock is owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NYSE NKE) opened at 59.95 on Monday. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.33. The firm has a market capitalization of $98.51 billion, a PE ratio of 23.88 and a beta of 0.59. The company’s 50 day moving average is $55.02 and its 200 day moving average is $54.92.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the prior year, the business earned $0.49 EPS. Nike’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts forecast that Nike, Inc. will post $2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 5th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.20%. Nike’s payout ratio is 28.69%.
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Several research analysts have weighed in on the stock. UBS AG reissued a “buy” rating and set a $62.00 price objective (down from $63.00) on shares of Nike in a report on Tuesday, June 27th. FBR & Co set a $53.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. Canaccord Genuity set a $51.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. B. Riley reissued a “neutral” rating and set a $56.00 price objective on shares of Nike in a report on Monday, March 27th. Finally, Wells Fargo & Company set a $56.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $61.04.
In related news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $58.10, for a total value of $1,630,983.20. Following the sale, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 374,315 shares of company stock valued at $21,562,036. 3.90% of the stock is owned by company insiders.
Nike Company Profile
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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