Nike, Inc. (NKE) Shares Sold by WealthTrust Arizona LLC
WealthTrust Arizona LLC cut its stake in shares of Nike, Inc. (NYSE:NKE) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,159 shares of the footwear maker’s stock after selling 500 shares during the period. Nike accounts for about 0.4% of WealthTrust Arizona LLC’s investment portfolio, making the stock its 26th largest position. WealthTrust Arizona LLC’s holdings in Nike were worth $776,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. V Wealth Management LLC purchased a new position in Nike during the second quarter valued at $100,000. Crestwood Advisors Group LLC purchased a new position in Nike during the first quarter valued at $117,000. Webster Bank N. A. increased its position in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares during the last quarter. Gierl Augustine Investment Management Inc increased its position in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares during the last quarter. Finally, Asset Planning Services Ltd. purchased a new position in Nike during the first quarter valued at $118,000. 63.47% of the stock is owned by hedge funds and other institutional investors.
Nike, Inc. (NYSE NKE) traded down 4.52% on Friday, hitting $54.86. The company had a trading volume of 15,241,458 shares. The stock has a market cap of $90.15 billion, a P/E ratio of 21.86 and a beta of 0.59. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The firm’s 50 day moving average price is $58.59 and its 200 day moving average price is $55.75. Nike also saw some unusual options trading activity on Tuesday. Stock traders purchased 10,309 put options on the company. This represents an increase of 171% compared to the typical volume of 3,808 put options.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Equities analysts predict that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is presently 28.69%.
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Several equities analysts recently weighed in on the company. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a research note on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective for the company. in a research note on Monday, June 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Nike in a research note on Friday, June 30th. Finally, Morgan Stanley reaffirmed a “neutral” rating and issued a $56.00 price objective on shares of Nike in a research note on Wednesday, June 7th. Two research 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. Nike has an average rating of “Buy” and an average target price of $61.04.
In related news, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now 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 quarter, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is 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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