Commonwealth Equity Services LLC lifted its stake in shares of Nike Inc (NYSE:NKE) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 341,745 shares of the footwear maker’s stock after buying an additional 14,907 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Nike were worth $28,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC purchased a new position in shares of Nike during the first quarter valued at about $25,000. Shamrock Asset Management LLC bought a new stake in Nike during the first quarter worth about $25,000. Jackson Grant Investment Advisers Inc. bought a new stake in Nike during the first quarter worth about $25,000. Thor Advisors LLC bought a new stake in Nike during the first quarter worth about $26,000. Finally, Mackey Komara & Dankovich LLC bought a new stake in Nike during the first quarter worth about $30,000. Institutional investors own 65.67% of the company’s stock.
Several equities research analysts recently commented on NKE shares. Morgan Stanley set a $103.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Goldman Sachs Group lowered shares of Anaplan from a “buy” rating to a “neutral” rating and set a $53.20 price objective on the stock. in a research note on Monday, July 1st. Credit Suisse Group set a $180.00 price objective on shares of Accenture and gave the stock a “hold” rating in a research note on Friday, June 28th. Zacks Investment Research raised shares of GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research note on Monday, May 27th. Finally, Deutsche Bank set a $28.00 price objective on shares of Colfax and gave the stock a “hold” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and a consensus target price of $89.86.
In other news, insider Elliott Hill sold 34,100 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total value of $3,012,394.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the completion of the transaction, the director now owns 38,813 shares in the company, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,637 shares of company stock worth $7,388,637. Insiders own 3.80% of the company’s stock.
Shares of NYSE NKE opened at $87.62 on Tuesday. The business has a 50 day moving average price of $85.86. The company has a market capitalization of $137.59 billion, a P/E ratio of 35.16, a PEG ratio of 2.32 and a beta of 0.78. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. As a group, equities research analysts forecast that Nike Inc will post 2.9 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Nike’s dividend payout ratio is presently 35.34%.
About Nike
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.