Nike Inc (NKE) Stake Lessened by Daiwa SB Investments Ltd.
Daiwa SB Investments Ltd. trimmed its holdings in Nike Inc (NYSE:NKE) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,260 shares of the footwear maker’s stock after selling 1,520 shares during the period. Daiwa SB Investments Ltd.’s holdings in Nike were worth $723,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NKE. Webster Bank N. A. lifted its position in shares of 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. Rational Advisors LLC lifted its position in shares of Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Nike by 31.1% in the first quarter. SRS Capital Advisors Inc. now owns 3,085 shares of the footwear maker’s stock valued at $171,000 after buying an additional 731 shares during the last quarter. North Star Investment Management Corp. lifted its position in shares of Nike by 3.5% in the first quarter. North Star Investment Management Corp. now owns 3,080 shares of the footwear maker’s stock valued at $172,000 after buying an additional 103 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. acquired a new stake in shares of Nike in the first quarter valued at approximately $180,000. 62.63% of the stock is owned by institutional investors.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is currently owned by company insiders.
Nike Inc (NYSE:NKE) traded down 0.11% on Thursday, hitting $53.50. The stock had a trading volume of 2,524,265 shares. The stock’s 50-day moving average is $55.57 and its 200-day moving average is $55.39. Nike Inc has a 52-week low of $49.01 and a 52-week high of $60.53. The company has a market cap of $87.91 billion, a P/E ratio of 21.31 and a beta of 0.61.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 11.62% and a return on equity of 32.18%. Nike’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Analysts expect that Nike Inc will post $2.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. Nike’s dividend payout ratio is currently 28.69%.
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A number of research firms have recently issued reports on NKE. UBS AG reaffirmed a “buy” rating and issued a $62.00 price objective (down from $63.00) on shares of Nike in a research report on Tuesday, June 27th. Canaccord Genuity set a $51.00 price objective on Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. FBR & Co set a $53.00 price objective on Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price objective on Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have issued a buy rating to the stock. Nike has a consensus rating of “Hold” and a consensus target price of $60.04.
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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