Wellesley Investment Partners LLC reduced its position in Nike, Inc. (NYSE:NKE) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,255 shares of the footwear maker’s stock after selling 75 shares during the period. Wellesley Investment Partners LLC’s holdings in Nike were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in NKE. Jennison Associates LLC boosted its stake in shares of Nike by 124.7% in the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Nike by 7,020.1% in the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Nike by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares during the last quarter. OMERS ADMINISTRATION Corp purchased a new position in shares of Nike in the 1st quarter worth $122,886,000. Finally, Pioneer Investment Management Inc. boosted its stake in shares of Nike by 108.4% in the 1st quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock worth $175,956,000 after buying an additional 1,642,177 shares during the last quarter. Hedge funds and other institutional investors own 62.63% of the company’s stock.
A number of equities analysts have recently issued reports on NKE shares. Canaccord Genuity set a $51.00 price target on Nike and gave the stock a “hold” rating in a research note on Friday, May 26th. Piper Jaffray Companies set a $50.00 price target on Nike and gave the stock a “hold” rating in a research note on Thursday, June 1st. Zacks Investment Research downgraded Nike from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Vetr cut Nike from a “buy” rating to a “hold” rating and set a $54.16 target price on the stock. in a report on Monday, June 5th. Finally, Morgan Stanley reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Nike in a report on Wednesday, June 7th. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company. Nike presently has a consensus rating of “Hold” and an average target price of $60.04.
Nike, Inc. (NYSE NKE) opened at 53.24 on Friday. The company has a market cap of $87.48 billion, a P/E ratio of 21.21 and a beta of 0.61. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The company has a 50-day moving average of $55.57 and a 200-day moving average of $55.39.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating 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 company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Nike, Inc. will post $2.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s dividend payout ratio is presently 28.69%.
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In other Nike news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares in the company, valued at $1,371,527. The disclosure for this sale can be found here. Insiders sold a total of 508,360 shares of company stock valued at $29,340,374 in the last three months. 3.90% of the stock is currently owned by corporate 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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