Mitsubishi UFJ Trust & Banking Corp trimmed its stake in NIKE, Inc. (NYSE:NKE) by 11.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 816,174 shares of the footwear maker’s stock after selling 104,758 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.05% of NIKE worth $125,983,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. FFT Wealth Management LLC acquired a new position in NIKE during the 2nd quarter valued at about $26,000. Princeton Global Asset Management LLC increased its position in NIKE by 39.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 70 shares in the last quarter. Rockbridge Investment Management LCC increased its position in NIKE by 43.9% during the 2nd quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock valued at $38,000 after buying an additional 75 shares in the last quarter. Financial Insights Inc. acquired a new position in NIKE during the 2nd quarter valued at about $38,000. Finally, Baldrige Asset Management LLC acquired a new position in NIKE during the 2nd quarter valued at about $41,000. 64.45% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on NKE shares. DZ Bank reaffirmed a “sell” rating on shares of NIKE in a research report on Friday, June 25th. Cowen boosted their price target on NIKE from $145.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, June 25th. They noted that the move was a valuation call. KGI Securities assumed coverage on NIKE in a research note on Tuesday, July 6th. They set an “outperform” rating on the stock. Zacks Investment Research downgraded NIKE from a “buy” rating to a “hold” rating and set a $164.00 price target on the stock. in a research note on Tuesday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $213.00 price target on shares of NIKE in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $173.56.
NIKE (NYSE:NKE) last released its earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.42. The firm had revenue of $12.30 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 51.41% and a net margin of 12.86%. NIKE’s revenue was up 94.8% compared to the same quarter last year. During the same period last year, the business posted ($0.51) earnings per share. As a group, equities research analysts forecast that NIKE, Inc. will post 4.3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Monday, August 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Friday, August 27th. NIKE’s dividend payout ratio is presently 30.90%.
In other NIKE news, COO Andrew Campion sold 7,125 shares of NIKE stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $171.50, for a total value of $1,221,937.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Matthew Friend sold 3,546 shares of NIKE stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $608,139.00. The disclosure for this sale can be found here. Insiders have sold 379,671 shares of company stock worth $60,634,427 in the last quarter. Insiders own 3.70% of the company’s stock.
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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