Nike, Inc. (NYSE:NKE) Position Lowered by Schmidt P J Investment Management Inc.
Schmidt P J Investment Management Inc. lowered its stake in shares of Nike, Inc. (NYSE:NKE) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,878 shares of the footwear maker’s stock after selling 7,530 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Nike were worth $4,005,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in NKE. Personal Capital Advisors Corp raised its stake in Nike by 15.5% in the first quarter. Personal Capital Advisors Corp now owns 83,943 shares of the footwear maker’s stock valued at $4,758,000 after buying an additional 11,288 shares in the last quarter. Stillwater Investment Management LLC raised its stake in Nike by 4.6% in the first quarter. Stillwater Investment Management LLC now owns 37,813 shares of the footwear maker’s stock valued at $2,107,000 after buying an additional 1,677 shares in the last quarter. Adviser Investments LLC acquired a new stake in Nike during the first quarter valued at approximately $2,645,000. Lederer & Associates Investment Counsel CA raised its stake in Nike by 1.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 6,330 shares of the footwear maker’s stock valued at $353,000 after buying an additional 90 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in Nike by 11.7% in the first quarter. DnB Asset Management AS now owns 146,817 shares of the footwear maker’s stock valued at $8,182,000 after buying an additional 15,380 shares in the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NYSE:NKE) traded down 0.17% on Friday, reaching $58.97. 4,979,994 shares of the company were exchanged. The company’s 50-day moving average price is $57.96 and its 200 day moving average price is $55.61. The company has a market cap of $96.90 billion, a price-to-earnings ratio of 23.49 and a beta of 0.59. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same quarter last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Nike, Inc. will post $2.42 EPS for the current year.
The company 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. This represents a $0.72 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is currently 28.69%.
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NKE has been the subject of several recent research reports. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $58.44 target price for the company. in a research note on Monday, April 17th. Canaccord Genuity set a $51.00 target price on shares of Nike and gave the company a “hold” rating in a research note on Friday, May 26th. Nomura reissued a “buy” rating on shares of Nike in a research note on Monday, May 15th. Cowen and Company set a $54.00 target price on shares of Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Instinet reissued a “buy” rating on shares of Nike in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $61.04.
In related news, CAO Hilary K. Krane sold 28,072 shares of Nike stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at approximately $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of Nike 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 directly owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last three months, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is currently owned by 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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