Nike, Inc. (NYSE:NKE) Shares Bought by Baird Financial Group Inc.
Baird Financial Group Inc. increased its stake in shares of Nike, Inc. (NYSE:NKE) by 25.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574,256 shares of the footwear maker’s stock after buying an additional 116,554 shares during the period. Baird Financial Group Inc.’s holdings in Nike were worth $32,003,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. CMH Wealth Management LLC bought a new stake in Nike during the fourth quarter valued at $1,222,000. Wills Financial Group Inc. raised its stake in Nike by 38.9% in the fourth quarter. Wills Financial Group Inc. now owns 26,603 shares of the footwear maker’s stock valued at $1,352,000 after buying an additional 7,448 shares in the last quarter. Portland Hill Capital LLP bought a new stake in Nike during the fourth quarter valued at $14,263,000. Pittenger & Anderson Inc. raised its stake in Nike by 1.2% in the fourth quarter. Pittenger & Anderson Inc. now owns 121,500 shares of the footwear maker’s stock valued at $6,176,000 after buying an additional 1,463 shares in the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in Nike during the fourth quarter valued at $865,000. Institutional investors own 64.17% of the company’s stock.
Nike, Inc. (NYSE:NKE) opened at 59.39 on Wednesday. The stock has a market cap of $97.59 billion, a price-to-earnings ratio of 23.66 and a beta of 0.60. Nike, Inc. has a one year low of $49.01 and a one year high of $60.33. The stock’s 50 day moving average price is $55.41 and its 200 day moving average price is $55.03.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. Equities analysts predict that Nike, Inc. will post $2.43 earnings per share for the current fiscal 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. This represents a $0.72 annualized dividend and a yield of 1.21%. The ex-dividend date was Thursday, June 1st. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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Several research firms have recently weighed in on NKE. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Saturday. Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Saturday. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Nike in a research note on Monday. Barclays PLC reissued an “overweight” rating and issued a $65.00 price target on shares of Nike in a research report on Friday, June 30th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $58.00 price target on shares of Nike in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $61.04.
In related news, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the sale, the insider now owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the sale, the chief financial officer now directly owns 50,246 shares in the company, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. Insiders have sold a total of 380,037 shares of company stock worth $21,901,923 in the last three months. 3.90% of the stock is owned by corporate insiders.
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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