Vontobel Asset Management Inc. Buys 604,970 Shares of Nike, Inc. (NKE)
Vontobel Asset Management Inc. raised its stake in shares of Nike, Inc. (NYSE:NKE) by 13.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,028,879 shares of the footwear maker’s stock after acquiring an additional 604,970 shares during the quarter. Nike makes up about 2.3% of Vontobel Asset Management Inc.’s portfolio, making the stock its 14th biggest position. Vontobel Asset Management Inc. owned approximately 0.38% of Nike worth $303,885,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Bank of Scotland Group PLC boosted its position in Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after acquiring an additional 12,201 shares in the last quarter. North Star Asset Management Inc. boosted its position in Nike by 7.8% during the 1st quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock valued at $3,162,000 after acquiring an additional 4,129 shares in the last quarter. Fifth Third Bancorp boosted its position in Nike by 3.7% during the 1st quarter. Fifth Third Bancorp now owns 1,120,494 shares of the footwear maker’s stock valued at $62,445,000 after acquiring an additional 39,554 shares in the last quarter. Summit Global Investments bought a new stake in Nike during the 1st quarter valued at $508,000. Finally, WINTON GROUP Ltd boosted its position in Nike by 2,434.9% during the 1st quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock valued at $15,798,000 after acquiring an additional 288,216 shares in the last quarter. 62.63% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on NKE shares. Goldman Sachs Group, Inc. (The) set a $62.00 target price on Nike and gave the company a “buy” rating in a research report on Friday, June 16th. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $55.06 target price on the stock in a research report on Thursday, June 15th. Berenberg Bank reaffirmed a “buy” rating and set a $70.00 target price on shares of Nike in a research report on Wednesday, June 14th. Deutsche Bank AG set a $63.00 target price on Nike and gave the company a “buy” rating in a research report on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 target price on Nike and gave the company a “buy” rating in a research report on Saturday, June 24th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $60.04.
In other Nike news, insider Eric D. Sprunk sold 112,323 shares of the 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 completion of the transaction, the insider now directly owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is currently owned by corporate insiders.
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Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same period last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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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