Phoenix Holdings Ltd. decreased its holdings in Nike Inc (NYSE:NKE) by 35.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,623 shares of the footwear maker’s stock after selling 15,966 shares during the period. Phoenix Holdings Ltd.’s holdings in Nike were worth $2,601,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NKE. Fisher Asset Management LLC grew its position in shares of Nike by 19,144.2% in the 1st quarter. Fisher Asset Management LLC now owns 5,892,758 shares of the footwear maker’s stock valued at $487,567,000 after buying an additional 5,862,137 shares during the last quarter. Morgan Stanley increased its holdings in Nike by 34.4% during the 1st quarter. Morgan Stanley now owns 20,528,550 shares of the footwear maker’s stock valued at $1,698,534,000 after acquiring an additional 5,256,195 shares in the last quarter. Fundsmith LLP purchased a new position in Nike during the 1st quarter valued at about $191,903,000. Jackson Square Partners LLC grew its holdings in shares of Nike by 119.5% during the second quarter. Jackson Square Partners LLC now owns 3,868,422 shares of the footwear maker’s stock worth $379,298,000 after buying an additional 2,106,053 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in shares of Nike during the first quarter worth about $34,672,000. 64.46% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on NKE shares. Jefferies Financial Group lifted their price target on shares of Nike from $83.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Oppenheimer started coverage on shares of Nike in a research report on Friday, June 26th. They issued a “buy” rating and a $115.00 target price on the stock. Telsey Advisory Group raised their target price on shares of Nike from $95.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, June 19th. TheStreet cut shares of Nike from a “b” rating to a “c+” rating in a research report on Thursday, June 25th. Finally, Susquehanna Bancshares lifted their price target on shares of Nike from $130.00 to $150.00 and gave the company a “positive” rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $110.59.
Shares of NKE traded down $0.54 during trading hours on Thursday, reaching $107.85. The company’s stock had a trading volume of 143,217 shares, compared to its average volume of 5,335,556. The firm has a market cap of $166.86 billion, a price-to-earnings ratio of 68.22, a P/E/G ratio of 2.91 and a beta of 0.77. Nike Inc has a 1-year low of $60.00 and a 1-year high of $109.69. 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 company has a 50 day moving average of $99.51 and a two-hundred day moving average of $93.09.
Nike (NYSE:NKE) last issued its earnings results 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 business had revenue of $6.31 billion during the quarter, compared to analyst estimates of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 32.95%. Nike’s revenue for the quarter was down 38.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. As a group, analysts forecast that Nike Inc will post 2.25 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a $0.245 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a yield of 0.91%. Nike’s dividend payout ratio is currently 52.97%.
In related news, insider Heidi O’neill sold 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $105.00, for a total value of $1,050,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the completion of the transaction, the chairman now owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The disclosure for this sale can be found here. Insiders sold 307,356 shares of company stock worth $30,387,715 in the last 90 days. 3.80% of the stock is currently owned by corporate 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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