Andra AP fonden grew its stake in Nike Inc (NYSE:NKE) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,300 shares of the footwear maker’s stock after acquiring an additional 10,600 shares during the period. Andra AP fonden’s holdings in Nike were worth $7,434,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Nike in the 2nd quarter worth approximately $104,000. CSat Investment Advisory L.P. purchased a new stake in shares of Nike in the 2nd quarter worth approximately $119,000. Bruderman Asset Management LLC purchased a new stake in shares of Nike in the 1st quarter worth approximately $129,000. Archford Capital Strategies LLC purchased a new stake in shares of Nike in the 1st quarter worth approximately $137,000. Finally, Tyvor Capital LLC purchased a new stake in shares of Nike in the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 63.97% of the company’s stock.
NKE has been the subject of several research reports. Needham & Company LLC reaffirmed a “neutral” rating on shares of Nike in a research report on Thursday, September 13th. HSBC set a $92.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, September 6th. Daiwa Capital Markets set a $85.00 price target on shares of Nike and gave the stock a “hold” rating in a research report on Monday, October 1st. Pivotal Research set a $85.00 target price on shares of Nike and gave the company a “hold” rating in a research report on Friday, September 21st. Finally, Morgan Stanley assumed coverage on shares of Nike in a research report on Wednesday, August 1st. They set an “overweight” rating and a $88.00 target price for the company. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have given a buy rating to the stock. Nike has a consensus rating of “Buy” and a consensus target price of $84.60.
In other news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $76.07, for a total value of $760,700.00. Following the sale, the executive vice president now owns 86,774 shares in the company, valued at $6,600,898.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,778 shares of company stock valued at $5,969,246. Corporate insiders own 3.90% of the company’s stock.
NYSE NKE opened at $75.91 on Friday. The firm has a market capitalization of $135.60 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 2.81 and a beta of 0.65. Nike Inc has a 12-month low of $50.40 and a 12-month high of $86.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. As a group, equities analysts anticipate that Nike Inc will post 2.63 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. Nike’s dividend payout ratio is currently 33.06%.
Nike announced that its board has authorized a share buyback program on Thursday, June 28th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the footwear maker to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Nike Company Profile
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.
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