Cubist Systematic Strategies LLC Takes $3.03 Million Position in Nike Inc (NKE)
Cubist Systematic Strategies LLC acquired a new position in shares of Nike Inc (NYSE:NKE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 38,030 shares of the footwear maker’s stock, valued at approximately $3,030,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Nike by 11.1% in the first quarter. Victory Capital Management Inc. now owns 61,947 shares of the footwear maker’s stock valued at $4,116,000 after buying an additional 6,192 shares during the last quarter. ETRADE Capital Management LLC purchased a new stake in Nike in the first quarter valued at about $291,000. Fiduciary Trust Co. raised its stake in Nike by 2.2% in the first quarter. Fiduciary Trust Co. now owns 232,664 shares of the footwear maker’s stock valued at $15,459,000 after buying an additional 4,956 shares during the last quarter. Aperio Group LLC raised its stake in Nike by 5.4% in the first quarter. Aperio Group LLC now owns 938,678 shares of the footwear maker’s stock valued at $62,366,000 after buying an additional 47,904 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Nike by 46.8% in the first quarter. Thrivent Financial for Lutherans now owns 325,959 shares of the footwear maker’s stock valued at $21,657,000 after buying an additional 103,844 shares during the last quarter. Hedge funds and other institutional investors own 63.99% of the company’s stock.
A number of equities research analysts have commented on NKE shares. Wells Fargo & Co set a $82.00 price target on Nike and gave the company a “neutral” rating in a research note on Tuesday, September 4th. UBS Group upgraded Nike from a “neutral” rating to a “positive” rating in a research note on Monday, August 20th. Wedbush increased their price target on Nike from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday. Morgan Stanley reiterated a “buy” rating and issued a $88.00 price target on shares of Nike in a research note on Friday, August 10th. Finally, Piper Jaffray Companies upgraded Nike from a “neutral” rating to an “overweight” rating and increased their price target for the company from $72.00 to $93.00 in a research note on Monday, August 20th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. Nike has a consensus rating of “Buy” and a consensus price target of $80.21.
Shares of NKE stock opened at $83.00 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.63 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $132.25 billion, a PE ratio of 34.43, a PEG ratio of 2.76 and a beta of 0.70. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $83.68.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.40 billion. Nike had a return on equity of 36.57% and a net margin of 5.31%. Nike’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. research analysts anticipate that Nike Inc will post 2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, August 31st. Nike’s dividend payout ratio (DPR) is 33.06%.
Nike announced that its board has approved a stock repurchase program on Thursday, June 28th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to purchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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