AQR Capital Management LLC Sells 37,146 Shares of Nike, Inc. (NKE)
AQR Capital Management LLC reduced its stake in shares of Nike, Inc. (NYSE:NKE) by 5.6% during the first quarter, Holdings Channel reports. The firm owned 622,037 shares of the footwear maker’s stock after selling 37,146 shares during the period. AQR Capital Management LLC’s holdings in Nike were worth $34,666,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Macquarie Group Ltd. increased its stake in Nike by 41.0% in the fourth quarter. Macquarie Group Ltd. now owns 209,770 shares of the footwear maker’s stock worth $10,663,000 after buying an additional 61,015 shares during the last quarter. Forte Capital LLC ADV increased its stake in Nike by 10.3% in the first quarter. Forte Capital LLC ADV now owns 59,686 shares of the footwear maker’s stock worth $3,326,000 after buying an additional 5,551 shares during the last quarter. Sheets Smith Wealth Management increased its stake in Nike by 4.5% in the first quarter. Sheets Smith Wealth Management now owns 139,755 shares of the footwear maker’s stock worth $7,789,000 after buying an additional 6,003 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Nike by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 414,148 shares of the footwear maker’s stock worth $23,080,000 after buying an additional 5,100 shares during the last quarter. Finally, Addenda Capital Inc. increased its stake in Nike by 0.4% in the first quarter. Addenda Capital Inc. now owns 205,617 shares of the footwear maker’s stock worth $11,428,000 after buying an additional 748 shares during the last quarter. 64.77% of the stock is owned by institutional investors.
Shares of Nike, Inc. (NYSE NKE) traded down 0.17% during trading on Friday, reaching $58.97. The company had a trading volume of 4,979,994 shares. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The firm has a market capitalization of $96.90 billion, a P/E ratio of 23.49 and a beta of 0.59. The company has a 50 day moving average of $57.96 and a 200-day moving average of $55.61.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $8.68 billion during 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 revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. Equities analysts expect that Nike, Inc. will post $2.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.22%. Nike’s dividend payout ratio is presently 28.69%.
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A number of analysts have recently weighed in on NKE shares. Vetr downgraded shares of Nike from a “buy” rating to a “hold” rating and set a $58.44 price target for the company. in a research report on Monday, April 17th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $62.00 price target on shares of Nike in a research report on Tuesday, April 18th. Deutsche Bank AG reissued a “buy” rating and set a $64.00 price target on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC reissued a “buy” rating and set a $75.00 price target on shares of Nike in a research report on Friday, May 5th. Finally, Nomura reissued a “buy” rating on shares of Nike in a research report on Monday, May 15th. Two 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 company. The company presently has an average rating of “Buy” and a consensus price target of $61.04.
In related news, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the sale, the chief financial officer now owns 34,976 shares in the company, valued at $2,077,574.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were 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 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 492,360 shares of company stock valued at $28,485,174 in the last quarter. 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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