Saturna Capital CORP Has $45.10 Million Stake in Nike, Inc. (NKE)
Saturna Capital CORP increased its stake in Nike, Inc. (NYSE:NKE) by 0.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 809,164 shares of the footwear maker’s stock after buying an additional 350 shares during the period. Nike comprises 1.5% of Saturna Capital CORP’s holdings, making the stock its 24th largest position. Saturna Capital CORP’s holdings in Nike were worth $45,095,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in NKE. Accredited Investors Inc. increased its stake in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust increased its stake in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after buying an additional 24 shares during the period. Intrust Bank NA increased its stake in Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC increased its stake in Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after buying an additional 50 shares during the period. 64.77% of the stock is currently owned by institutional investors and hedge funds.
Nike, Inc. (NYSE:NKE) traded down 0.17% during midday trading on Friday, hitting $58.97. The stock had a trading volume of 4,979,994 shares. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market cap of $96.90 billion, a PE ratio of 23.49 and a beta of 0.59. The firm has a 50-day moving average of $57.96 and a 200-day moving average of $55.61.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The business 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 business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. Equities research analysts forecast that Nike, Inc. will post $2.42 EPS for the current year.
The business also recently announced 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%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.
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Several research analysts have recently weighed in on the company. Jefferies Group LLC restated a “buy” rating and issued a $75.00 price target on shares of Nike in a research note on Friday, May 5th. Morgan Stanley restated an “equal weight” rating and issued a $56.00 price target on shares of Nike in a research note on Wednesday, June 21st. Credit Suisse Group set a $63.00 price target on Nike and gave the stock a “buy” rating in a research note on Saturday, June 24th. UBS AG restated a “buy” rating and issued a $62.00 price target (down previously from $63.00) on shares of Nike in a research note on Tuesday, June 27th. Finally, Nomura restated a “buy” rating and issued a $60.00 price target 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 assigned a hold rating and twenty-two have given a buy rating to the company. Nike currently 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 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 value of $1,630,983.20. Following the transaction, the chief accounting officer now directly owns 177,723 shares in the company, valued at $10,325,706.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. 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. 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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