Rehmann Capital Advisory Group decreased its position in shares of Nike, Inc. (NYSE:NKE) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,358 shares of the footwear maker’s stock after selling 337 shares during the period. Rehmann Capital Advisory Group’s holdings in Nike were worth $906,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC boosted its position in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. Norges Bank purchased a new position in Nike during the fourth quarter valued at approximately $463,411,000. OppenheimerFunds Inc. boosted its position in Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock valued at $298,145,000 after buying an additional 5,274,656 shares during the period. Wellington Management Group LLP boosted its position in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares during the period. Finally, OMERS ADMINISTRATION Corp purchased a new position in Nike during the first quarter valued at approximately $122,886,000. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Nike, Inc. (NYSE NKE) opened at 58.54 on Thursday. The company has a market capitalization of $96.19 billion, a P/E ratio of 23.32 and a beta of 0.59. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The stock’s 50 day moving average is $58.47 and its 200-day moving average is $55.74. Nike also was the target of unusually large options trading activity on Tuesday. Traders acquired 10,309 put options on the stock. This is an increase of approximately 171% compared to the typical volume of 3,808 put options.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. Nike’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.23%. Nike’s dividend payout ratio is 28.69%.
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Several research analysts have commented on NKE shares. Deutsche Bank AG restated a “buy” rating and issued a $64.00 target price on shares of Nike in a research report on Saturday, April 22nd. Jefferies Group LLC restated a “buy” rating and issued a $75.00 target price on shares of Nike in a research report on Friday, May 5th. Berenberg Bank started coverage on shares of Nike in a research report on Tuesday, May 16th. They issued a “buy” rating and a $70.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $66.00 target price on shares of Nike in a research report on Friday, June 30th. Finally, Morgan Stanley upgraded shares of Nike from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $56.00 to $68.00 in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $61.04.
In related news, CAO Hilary K. Krane sold 28,072 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. Insiders have sold 492,360 shares of company stock valued at $28,485,174 in the last ninety days. 3.90% of the stock is currently owned by company insiders.
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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