Private Asset Management Inc. Maintains Holdings in Nike, Inc. (NKE)
Private Asset Management Inc. continued to hold its stake in Nike, Inc. (NYSE:NKE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,108 shares of the footwear maker’s stock at the end of the second quarter. Private Asset Management Inc.’s holdings in Nike were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in the stock. 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 acquiring an additional 19 shares during the last quarter. 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 acquiring an additional 24 shares during the last quarter. 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 acquiring an additional 46 shares during the last quarter. 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 acquiring an additional 48 shares during the last quarter. 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 acquiring an additional 50 shares during the last quarter. 62.72% of the stock is currently owned by institutional investors and hedge funds.
Nike, Inc. (NKE) traded up 0.290% on Thursday, hitting $53.675. 3,550,805 shares of the stock were exchanged. The stock has a market cap of $88.20 billion, a price-to-earnings ratio of 21.384 and a beta of 0.61. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The company has a 50-day moving average of $56.31 and a 200-day moving average of $55.53.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the 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 firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Nike, Inc. will post $2.42 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is presently 28.69%.
NKE has been the topic of a number of recent analyst reports. Jefferies Group LLC cut shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price on the stock. in a research note on Monday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $66.00 target price on shares of Nike in a research note on Friday, June 30th. Morgan Stanley raised shares of Nike from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Finally, Deutsche Bank AG set a $63.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.48.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the sale, the insider now directly owns 300,108 shares of the company’s stock, valued at $17,706,372. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Campion sold 96,243 shares of the 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 directly owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is owned by company 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.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike, Inc. (NYSE:NKE).
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.