Orbis Investment Management U.S. LLC Buys New Position in Nike, Inc. (NKE)
Orbis Investment Management U.S. LLC acquired a new stake in shares of Nike, Inc. (NYSE:NKE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 59,374 shares of the footwear maker’s stock, valued at approximately $3,503,000. Nike makes up 2.3% of Orbis Investment Management U.S. LLC’s investment portfolio, making the stock its 19th biggest position.
Several other hedge funds and other institutional investors also recently modified their holdings of NKE. Peapack Gladstone Financial Corp raised its stake in shares of Nike by 6.6% during the first quarter. Peapack Gladstone Financial Corp now owns 42,492 shares of the footwear maker’s stock valued at $2,368,000 after purchasing an additional 2,649 shares in the last quarter. Aberdeen Asset Management PLC UK raised its stake in shares of Nike by 10.5% during the first quarter. Aberdeen Asset Management PLC UK now owns 279,282 shares of the footwear maker’s stock valued at $15,565,000 after purchasing an additional 26,641 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Nike by 5.0% during the first quarter. Pinnacle Associates Ltd. now owns 58,934 shares of the footwear maker’s stock valued at $3,284,000 after purchasing an additional 2,785 shares in the last quarter. NN Investment Partners Holdings N.V. raised its stake in shares of Nike by 19.4% during the first quarter. NN Investment Partners Holdings N.V. now owns 60,108 shares of the footwear maker’s stock valued at $3,350,000 after purchasing an additional 9,782 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Nike during the first quarter valued at about $122,886,000. Institutional investors and hedge funds own 63.05% of the company’s stock.
Shares of Nike, Inc. (NKE) traded down $0.05 on Wednesday, reaching $59.58. The company had a trading volume of 8,664,899 shares, compared to its average volume of 9,572,745. The stock has a market cap of $97,210.00, a PE ratio of 25.24, a P/E/G ratio of 2.78 and a beta of 0.60. Nike, Inc. has a 1 year low of $50.06 and a 1 year high of $60.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the business posted $0.73 EPS. equities analysts anticipate that Nike, Inc. will post 2.28 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 30.77%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
A number of equities research analysts recently weighed in on NKE shares. Morgan Stanley restated a “buy” rating and set a $64.00 price objective (down from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Telsey Advisory Group dropped their price target on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target on the stock in a research report on Wednesday, September 6th. Cowen set a $54.00 price target on shares of Nike and gave the stock a “hold” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $55.00 price target (down from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and nineteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.01.
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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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