Meitav Dash Investments Ltd. increased its stake in Nike Inc (NYSE:NKE) by 46.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,726 shares of the footwear maker’s stock after buying an additional 4,015 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Nike were worth $1,226,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NKE. BlackRock Inc. increased its position in Nike by 1.7% during the first quarter. BlackRock Inc. now owns 90,976,698 shares of the footwear maker’s stock worth $7,527,412,000 after buying an additional 1,489,033 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Nike by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 26,547,619 shares of the footwear maker’s stock valued at $2,196,549,000 after acquiring an additional 584,343 shares during the period. Wellington Management Group LLP lifted its holdings in Nike by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 22,175,695 shares of the footwear maker’s stock valued at $1,834,816,000 after purchasing an additional 73,831 shares during the last quarter. Geode Capital Management LLC boosted its position in Nike by 1.1% during the first quarter. Geode Capital Management LLC now owns 21,107,272 shares of the footwear maker’s stock worth $1,743,723,000 after purchasing an additional 222,608 shares during the period. Finally, Capital World Investors boosted its position in Nike by 2.5% during the first quarter. Capital World Investors now owns 20,704,258 shares of the footwear maker’s stock worth $1,713,079,000 after purchasing an additional 508,120 shares during the period. 64.46% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NKE traded down $0.42 during trading on Thursday, hitting $107.97. 118,035 shares of the company were exchanged, compared to its average volume of 5,335,556. Nike Inc has a 1-year low of $60.00 and a 1-year high of $109.69. The company has a market capitalization of $166.86 billion, a P/E ratio of 68.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.77. The company has a quick ratio of 1.59, a current ratio of 2.48 and a debt-to-equity ratio of 1.53. The business’s 50 day moving average is $99.51 and its 200-day moving average is $93.09.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). The firm had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. Nike had a return on equity of 32.95% and a net margin of 6.79%. The company’s revenue was down 38.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 EPS. As a group, sell-side analysts anticipate that Nike Inc will post 2.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, August 28th. Nike’s dividend payout ratio is currently 52.97%.
A number of research firms have recently issued reports on NKE. Morgan Stanley raised their target price on shares of Nike from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. UBS Group restated a “buy” rating and set a $127.00 price objective on shares of Nike in a research report on Monday, June 29th. TheStreet downgraded Nike from a “b” rating to a “c+” rating in a research report on Thursday, June 25th. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $108.00 target price on the stock in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group boosted their price target on Nike from $83.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average price target of $110.59.
In related news, CAO Hilary K. Krane sold 11,000 shares of the business’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $96.33, for a total value of $1,059,630.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Heidi O’neill sold 10,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,356 shares of company stock valued at $30,387,715. 3.80% of the stock is owned by company insiders.
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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