Nike, Inc. (NKE) Stake Raised by Court Place Advisors LLC
Court Place Advisors LLC boosted its stake in Nike, Inc. (NYSE:NKE) by 16.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,327 shares of the footwear maker’s stock after buying an additional 1,840 shares during the period. Court Place Advisors LLC’s holdings in Nike were worth $786,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of NKE. Jennison Associates LLC boosted its stake in 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. OppenheimerFunds Inc. boosted its stake in Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after buying an additional 5,274,656 shares during the period. Wellington Management Group LLP boosted its stake in 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. OMERS ADMINISTRATION Corp purchased a new stake in Nike during the first quarter valued at $122,886,000. Finally, Pioneer Investment Management Inc. boosted its stake in Nike by 108.4% in the first quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock valued at $175,956,000 after buying an additional 1,642,177 shares during the period. Institutional investors own 64.77% of the company’s stock.
Nike, Inc. (NYSE:NKE) traded down 0.17% during midday trading on Friday, reaching $58.97. The company’s stock had a trading volume of 4,979,994 shares. The company 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, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for 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 firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Equities research analysts anticipate that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.
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A number of research firms have weighed in on NKE. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Nike in a research note on Tuesday, April 18th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Nike in a research note on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Nike in a research note on Friday, May 5th. Berenberg Bank began coverage on shares of Nike in a research note on Tuesday, May 16th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.04.
In other Nike news, CAO Hilary K. Krane sold 28,072 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the sale, the chief accounting officer now owns 177,723 shares in the company, valued at $10,325,706.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric D. Sprunk sold 112,323 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the sale, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. In 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 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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