S&CO Inc. Has $378,000 Stake in Nike, Inc. (NKE)
S&CO Inc. held its position in Nike, Inc. (NYSE:NKE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,400 shares of the footwear maker’s stock at the end of the 2nd quarter. S&CO Inc.’s holdings in Nike were worth $378,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of NKE. Jennison Associates LLC boosted its stake in Nike by 124.7% during the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Nike by 7,020.1% in the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after purchasing an additional 5,274,656 shares in the last quarter. Flossbach Von Storch AG boosted its stake in shares of Nike by 141.9% in the 2nd quarter. Flossbach Von Storch AG now owns 4,669,950 shares of the footwear maker’s stock valued at $275,527,000 after purchasing an additional 2,739,500 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Nike by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after purchasing an additional 2,375,447 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Nike in the 1st quarter valued at $122,886,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.
Shares of Nike, Inc. (NYSE NKE) opened at 53.24 on Friday. The company has a 50-day moving average price of $55.57 and a 200-day moving average price of $55.39. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53. The company has a market cap of $87.48 billion, a PE ratio of 21.21 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Nike, Inc. will post $2.41 earnings per share for the current fiscal year.
The firm also recently disclosed 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 currently 28.69%.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $59.00, for a total value of $2,950,000.00. Following the transaction, the insider now 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 can be accessed through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $58.10, for a total value of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now directly owns 177,723 shares in the company, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. In the last three months, insiders sold 508,360 shares of company stock worth $29,340,374. Insiders own 3.90% of the company’s stock.
Several brokerages have recently commented on NKE. Stifel Nicolaus set a $66.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price target on Nike and gave the company a “hold” rating in a report on Saturday, July 22nd. Guggenheim reaffirmed a “buy” rating and issued a $70.00 price target on shares of Nike in a report on Monday, July 24th. Cowen and Company set a $54.00 price target on Nike and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Nike in a report on Friday, June 30th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average 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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