Plaisance Capital LLC acquired a new position in Nike Inc (NYSE:NKE) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 28,780 shares of the footwear maker’s stock, valued at approximately $2,822,000. Nike makes up 3.0% of Plaisance Capital LLC’s holdings, making the stock its 8th biggest holding.
Other hedge funds have also recently modified their holdings of the company. Beaumont Asset Management L.L.C. acquired a new position in Nike in the 2nd quarter worth $384,000. Palisade Capital Management LLC NJ lifted its holdings in Nike by 8.8% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 35,300 shares of the footwear maker’s stock worth $3,461,000 after buying an additional 2,850 shares in the last quarter. Kentucky Retirement Systems acquired a new position in Nike in the 2nd quarter worth $6,769,000. Balentine LLC acquired a new position in Nike in the 1st quarter worth $128,000. Finally, Creative Financial Designs Inc. ADV acquired a new position in Nike in the 2nd quarter worth $87,000. Hedge funds and other institutional investors own 64.20% of the company’s stock.
In other news, EVP Monique S. Matheson sold 8,500 shares of Nike stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $108.00, for a total transaction of $918,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Hilary K. Krane sold 11,000 shares of Nike 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 disclosure for this sale can be found here. Insiders have sold 143,356 shares of company stock worth $14,962,435 over the last ninety days. 3.80% of the stock is owned by insiders.
Nike stock traded down $0.45 during mid-day trading on Friday, hitting $112.40. 5,157,506 shares of the company’s stock traded hands, compared to its average volume of 5,532,533. Nike Inc has a one year low of $60.00 and a one year high of $117.41. The company has a quick ratio of 1.59, a current ratio of 2.48 and a debt-to-equity ratio of 1.17. The firm has a 50 day moving average price of $103.85 and a 200 day moving average price of $94.02. The company has a market cap of $175.33 billion, a PE ratio of 71.14, a price-to-earnings-growth ratio of 3.00 and a beta of 0.83.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion during 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 firm’s quarterly revenue was down 38.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, analysts expect that Nike Inc will post 2.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, August 28th. Nike’s dividend payout ratio (DPR) is presently 52.97%.
A number of brokerages have recently issued reports on NKE. Raymond James upped their target price on shares of Nike from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Robert W. Baird upped their target price on shares of Nike from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Pivotal Research restated a “buy” rating and issued a $115.00 target price on shares of Nike in a research note on Tuesday, June 23rd. Wells Fargo & Co upped their target price on shares of Nike from $99.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $115.00 target price on shares of Nike in a research note on Tuesday, August 18th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $110.59.
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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