Nike, Inc. (NKE) Stake Reduced by Northstar Asset Management LLC
Northstar Asset Management LLC lowered its position in Nike, Inc. (NYSE:NKE) by 13.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,340 shares of the footwear maker’s stock after selling 2,000 shares during the period. Northstar Asset Management LLC’s holdings in Nike were worth $728,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC increased its position 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 worth $1,401,251,000 after buying an additional 13,953,567 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Wellington Management Group LLP increased its position 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 worth $2,781,332,000 after buying an additional 2,375,447 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Nike during the first quarter worth $122,886,000. Finally, Pioneer Investment Management Inc. increased its position in shares of Nike by 108.4% in the first quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock worth $175,956,000 after buying an additional 1,642,177 shares during the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.
Nike, Inc. (NYSE:NKE) traded down 0.767% during midday trading on Thursday, reaching $58.091. The company had a trading volume of 2,681,118 shares. The company has a 50-day moving average of $58.47 and a 200-day moving average of $55.74. The stock has a market capitalization of $95.45 billion, a PE ratio of 23.144 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 also saw some unusual options trading on Tuesday. Stock traders acquired 10,309 put options on the stock. This represents an increase of 171% compared to the typical daily volume of 3,808 put options.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts predict that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is 28.69%.
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A number of research firms have commented on NKE. Deutsche Bank AG reaffirmed a “buy” rating and set a $64.00 price objective on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Nike in a research report on Friday, May 5th. Berenberg Bank began coverage on shares of Nike in a research report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 price objective on shares of Nike in a research report on Friday, June 30th. Finally, Morgan Stanley raised shares of Nike from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $68.00 in a research report on Wednesday, July 19th. Two equities research 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. The stock currently has an average rating of “Buy” and an average target price of $61.04.
In other news, CFO Andrew Campion sold 96,243 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 139,551 shares in the company, valued at $8,179,084.11. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 over the last three months. Corporate 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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