Brown Advisory Securities LLC Purchases 10,498 Shares of Nike, Inc. (NYSE:NKE)
Brown Advisory Securities LLC boosted its stake in Nike, Inc. (NYSE:NKE) by 185.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,144 shares of the footwear maker’s stock after buying an additional 10,498 shares during the period. Brown Advisory Securities LLC’s holdings in Nike were worth $898,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in NKE. Wellington Management Group LLP raised its stake in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares during the period. Jennison Associates LLC raised its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after buying an additional 1,130,409 shares during the period. Finally, Edgewood Management LLC raised its stake in shares of Nike by 3.9% in the first quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock valued at $661,710,000 after buying an additional 441,507 shares during the period. 64.77% of the stock is owned by institutional investors.
Nike, Inc. (NKE) traded down 0.08% during trading on Friday, hitting $59.02. The stock had a trading volume of 1,460,572 shares. The stock has a market cap of $96.98 billion, a price-to-earnings ratio of 23.51 and a beta of 0.59. The stock has a 50 day moving average price of $57.77 and a 200-day moving average price of $55.57. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. On average, equities analysts predict that Nike, Inc. will post $2.42 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s payout ratio is 28.69%.
Several equities research analysts recently weighed in on NKE shares. Nomura reissued a “buy” rating and issued a $60.00 price objective on shares of Nike in a report on Friday, June 30th. J P Morgan Chase & Co lowered Nike from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $61.00 to $58.00 in a report on Friday, June 16th. Telsey Advisory Group decreased their price objective on Nike from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, June 22nd. Cowen and Company lifted their price objective on Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a report on Friday, June 30th. Finally, Vetr raised Nike from a “hold” rating to a “buy” rating and set a $55.06 price objective for the company in a report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $61.04.
In other news, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the sale, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value 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 disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock valued at $28,485,174 in the last three months. 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’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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