Sei Investments Co. Increases Position in Nike Inc (NKE)
Sei Investments Co. boosted its holdings in shares of Nike Inc (NYSE:NKE) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 702,479 shares of the footwear maker’s stock after acquiring an additional 35,264 shares during the period. Sei Investments Co.’s holdings in Nike were worth $59,526,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. grew its stake in shares of Nike by 0.4% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 1,609,608 shares of the footwear maker’s stock valued at $128,253,000 after buying an additional 6,256 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Nike by 7.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 21,710 shares of the footwear maker’s stock worth $1,730,000 after acquiring an additional 1,525 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Nike by 49.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 531,637 shares of the footwear maker’s stock worth $42,361,000 after acquiring an additional 175,587 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Nike by 362.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 684,436 shares of the footwear maker’s stock worth $54,536,000 after acquiring an additional 536,468 shares during the last quarter. Finally, Calamos Wealth Management LLC acquired a new position in shares of Nike in the 3rd quarter worth approximately $773,000. 64.72% of the stock is owned by institutional investors.
In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total value of $1,445,000.00. Following the sale, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at approximately $8,902,645. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now directly owns 26,963 shares in the company, valued at $2,293,203.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $4,219,350. Insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same period in the prior year, the business earned $0.57 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Nike Inc will post 2.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Nike’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.19%. Nike’s dividend payout ratio is currently 33.06%.
Several equities analysts have recently commented on NKE shares. Needham & Company LLC restated a “neutral” rating on shares of Nike in a report on Thursday, September 13th. HSBC set a $92.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Thursday, September 6th. Daiwa Capital Markets set a $85.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Monday, October 1st. Pivotal Research set a $85.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Friday, September 21st. Finally, Oppenheimer upgraded shares of Nike from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $85.63.
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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