Wedbush Securities Inc. lowered its stake in Nike, Inc. (NYSE:NKE) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,666 shares of the footwear maker’s stock after selling 2,130 shares during the period. Wedbush Securities Inc.’s holdings in Nike were worth $2,812,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. V Wealth Management LLC purchased a new position in shares of Nike in the second quarter worth $100,000. Webster Bank N. A. raised its holdings in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares during the last quarter. Rational Advisors LLC raised its holdings in shares of Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Nike by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after buying an additional 201 shares during the last quarter. 62.63% of the stock is owned by institutional investors and hedge funds.
In other Nike news, CAO Hilary K. Krane sold 28,072 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now owns 177,723 shares in the company, valued at approximately $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,117 shares of company stock valued at $9,409,321. 3.90% of the stock is owned by insiders.
A number of research analysts have issued reports on NKE shares. Morgan Stanley reaffirmed a “buy” rating and issued a $64.00 price target (down previously from $68.00) on shares of Nike in a report on Tuesday, August 29th. Telsey Advisory Group decreased their price target on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target for the company in a report on Wednesday, September 6th. Cowen and Company set a $54.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $55.00 price target (down previously from $56.00) on shares of Nike in a report on Tuesday, September 19th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $59.14.
Nike, Inc. (NKE) opened at 51.53 on Wednesday. The firm has a 50-day moving average of $52.93 and a 200-day moving average of $54.92. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The stock has a market cap of $84.46 billion, a PE ratio of 21.94 and a beta of 0.61.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. Equities analysts predict that Nike, Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. Nike’s payout ratio is currently 30.64%.
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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