Two Sigma Securities LLC Buys 9,620 Shares of Nike, Inc. (NYSE:NKE)
Two Sigma Securities LLC increased its stake in Nike, Inc. (NYSE:NKE) by 178.3% during the first quarter, Holdings Channel reports. The firm owned 15,015 shares of the footwear maker’s stock after buying an additional 9,620 shares during the period. Two Sigma Securities LLC’s holdings in Nike were worth $837,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased 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 increased 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 increased 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 increased 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 increased 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. Institutional investors own 64.77% of the company’s stock.
Nike, Inc. (NYSE:NKE) traded up 0.0906% during midday trading on Friday, hitting $59.1235. The stock had a trading volume of 1,851,154 shares. The stock has a market cap of $97.15 billion, a PE ratio of 23.5552 and a beta of 0.59. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The firm has a 50 day moving average price of $57.77 and a 200 day moving average price of $55.57.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the previous year, the company posted $0.49 EPS. Nike’s revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Nike, Inc. will post $2.42 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. Nike’s dividend payout ratio is currently 28.69%.
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NKE has been the topic of several recent research reports. Nomura restated a “buy” rating and set a $60.00 price target on shares of Nike in a report on Friday, June 30th. J P Morgan Chase & Co downgraded Nike from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $61.00 to $58.00 in a report on Friday, June 16th. Telsey Advisory Group cut their price target on Nike from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. Cowen and Company upped their price target 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 upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price target on the stock in a report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average target price of $61.04.
In other news, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now directly owns 139,551 shares in the company, valued at approximately $8,179,084.11. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares in the company, valued at $17,706,372. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently 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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