Pensionfund Sabic Maintains Stake in Nike, Inc. (NKE)
Pensionfund Sabic continued to hold its stake in shares of Nike, Inc. (NYSE:NKE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,100 shares of the footwear maker’s stock at the end of the 2nd quarter. Nike comprises approximately 0.8% of Pensionfund Sabic’s holdings, making the stock its 24th largest position. Pensionfund Sabic’s holdings in Nike were worth $2,484,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Nike by 1.4% during the 1st quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock worth $3,319,086,000 after acquiring an additional 835,003 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Nike by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after acquiring an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Nike by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock worth $1,621,066,000 after acquiring an additional 144,846 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Nike by 124.7% during the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after acquiring an additional 13,953,567 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Nike by 9.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after acquiring an additional 1,130,409 shares in the last quarter. 62.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now directly owns 729,610 shares in the company, valued at approximately $42,047,424.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the sale, 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. Insiders sold a total of 492,360 shares of company stock worth $28,485,174 over the last 90 days. Company insiders own 3.90% of the company’s stock.
Shares of Nike, Inc. (NYSE:NKE) traded up 0.1874% during midday trading on Wednesday, hitting $53.5001. 2,785,852 shares of the stock were exchanged. The stock’s 50 day moving average is $56.31 and its 200 day moving average is $55.53. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The firm has a market cap of $87.91 billion, a P/E ratio of 21.3148 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $0.49 EPS. On average, equities research analysts forecast that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s dividend payout ratio is 28.69%.
Several research analysts recently issued reports on NKE shares. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. BidaskClub upgraded Nike from a “sell” rating to a “hold” rating in a research report 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 report on Monday, June 5th. Robert W. Baird restated an “outperform” rating and set a $62.00 price objective on shares of Nike in a research report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $58.00 price objective (down from $63.00) on shares of Nike in a research report on Monday, August 21st. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $60.44.
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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