Nike, Inc. (NKE) Stake Maintained by Selway Asset Management
Selway Asset Management maintained its stake in shares of Nike, Inc. (NYSE:NKE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,050 shares of the footwear maker’s stock at the close of the 2nd quarter. Nike makes up 1.7% of Selway Asset Management’s holdings, making the stock its 21st largest position. Selway Asset Management’s holdings in Nike were worth $2,894,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of NKE. Waldron LP increased its stake in shares of Nike by 90.8% in the first quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock valued at $496,000 after buying an additional 4,246 shares during the period. Schmidt P J Investment Management Inc. increased its stake in shares of Nike by 0.9% in the first quarter. Schmidt P J Investment Management Inc. now owns 75,408 shares of the footwear maker’s stock valued at $4,202,000 after buying an additional 703 shares during the period. Exencial Wealth Advisors LLC increased its stake in shares of Nike by 0.9% in the first quarter. Exencial Wealth Advisors LLC now owns 76,642 shares of the footwear maker’s stock valued at $4,281,000 after buying an additional 717 shares during the period. iAB Financial Bank acquired a new stake in shares of Nike in the first quarter valued at about $277,000. Finally, Moloney Securities Asset Management LLC increased its stake in shares of Nike by 26.4% in the first quarter. Moloney Securities Asset Management LLC now owns 15,206 shares of the footwear maker’s stock valued at $847,000 after buying an additional 3,179 shares during the period. 62.63% of the stock is owned by institutional investors.
In other news, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares in the company, valued at approximately $42,047,424.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the company’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 completion of the sale, the insider now owns 300,108 shares of the company’s stock, valued at $17,706,372. The disclosure for this sale can be found here. Insiders sold a total of 508,360 shares of company stock valued at $29,340,374 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
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Several equities research analysts have recently weighed in on NKE shares. Goldman Sachs Group, Inc. (The) set a $62.00 price target on Nike and gave the company a “buy” rating in a research note on Friday, June 16th. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $55.06 price target for the company in a research note on Thursday, June 15th. Berenberg Bank reissued a “buy” rating and issued a $70.00 price target on shares of Nike in a research note on Wednesday, June 14th. Deutsche Bank AG set a $63.00 price target on Nike and gave the company a “buy” rating in a research note on Tuesday, June 20th. Finally, Credit Suisse Group set a $63.00 price target on Nike and gave the company a “buy” rating in a research note on Saturday, June 24th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty have assigned a buy rating to the company. Nike has a consensus rating of “Hold” and an average price target of $60.04.
Nike, Inc. (NYSE:NKE) opened at 53.23 on Tuesday. The stock has a 50 day moving average price of $55.57 and a 200-day moving average price of $55.39. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market capitalization of $87.47 billion, a price-to-earnings 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 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. Nike’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 EPS. Equities analysts predict that Nike, Inc. will post $2.40 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. Nike’s dividend payout ratio (DPR) is 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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