DnB Asset Management AS Has $8.54 Million Position in Nike, Inc. (NKE)
DnB Asset Management AS lessened its holdings in Nike, Inc. (NYSE:NKE) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 144,717 shares of the footwear maker’s stock after selling 2,100 shares during the quarter. DnB Asset Management AS’s holdings in Nike were worth $8,538,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Accredited Investors Inc. raised its position in Nike by 0.5% in the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 19 shares during the period. Montecito Bank & Trust raised its position in Nike by 0.3% in the 1st quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after purchasing an additional 24 shares during the period. Intrust Bank NA raised its position in Nike by 0.9% in the 1st quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 46 shares during the period. Welch & Forbes LLC raised its position in Nike by 0.5% in the 1st quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after purchasing an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its position in Nike by 0.5% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after purchasing an additional 50 shares during the period. Institutional investors own 62.72% of the company’s stock.
A number of equities analysts recently commented on the stock. FBR & Co reiterated a “hold” rating and issued a $53.00 target price on shares of Nike in a research report on Thursday. DA Davidson reiterated a “buy” rating and issued a $69.00 target price on shares of Nike in a research report on Thursday. Wedbush reiterated a “neutral” rating and issued a $53.40 target price (up previously from $52.00) on shares of Nike in a research report on Thursday. Deutsche Bank AG reiterated a “buy” rating and issued a $61.00 target price (down previously from $69.00) on shares of Nike in a research report on Wednesday. Finally, Sanford C. Bernstein assumed coverage on shares of Nike in a research report on Tuesday. They issued an “outperform” rating and a $69.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. Nike has an average rating of “Buy” and an average target price of $60.48.
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In other news, insider Eric D. Sprunk sold 112,323 shares of the firm’s 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 sale, the insider now directly owns 139,551 shares in the company, valued at approximately $8,179,084.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s 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 completion of the sale, the insider now owns 729,610 shares in the company, valued at $42,047,424.30. 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 0.1364% on Friday, hitting $53.8033. 3,620,246 shares of the stock traded hands. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The stock has a market cap of $88.41 billion, a P/E ratio of 21.4356 and a beta of 0.61. The stock’s 50 day moving average price is $56.01 and its 200 day moving average price is $55.50.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period last year, the business earned $0.49 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Nike, Inc. will post $2.41 EPS for the current fiscal year.
The company 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 1.34%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.
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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