Stephens Inc. AR lessened its holdings in Nike Inc (NYSE:NKE) by 15.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,001 shares of the footwear maker’s stock after selling 13,461 shares during the period. Stephens Inc. AR’s holdings in Nike were worth $6,962,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado raised its holdings in shares of Nike by 14.0% in the first quarter. Public Employees Retirement Association of Colorado now owns 2,101,180 shares of the footwear maker’s stock worth $173,852,000 after buying an additional 258,577 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Nike by 26.0% in the first quarter. Victory Capital Management Inc. now owns 1,581,584 shares of the footwear maker’s stock worth $130,860,000 after buying an additional 326,628 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Nike in the first quarter worth $252,000. Cetera Advisor Networks LLC raised its stake in Nike by 6.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 41,964 shares of the footwear maker’s stock valued at $3,472,000 after purchasing an additional 2,410 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Nike by 12.7% during the 1st quarter. Cetera Investment Advisers now owns 7,729 shares of the footwear maker’s stock valued at $640,000 after purchasing an additional 870 shares during the last quarter. 64.20% of the stock is currently owned by hedge funds and other institutional investors.
NKE has been the subject of a number of recent research reports. Robert W. Baird increased their price objective 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. Deutsche Bank increased their price objective on shares of Nike from $87.00 to $107.00 and gave the stock a “hold” rating in a report on Tuesday. They noted that the move was a valuation call. Pivotal Research reissued a “buy” rating and set a $115.00 price objective on shares of Nike in a report on Tuesday, June 23rd. Sanford C. Bernstein upped their target price on shares of Nike from $101.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group increased their price target on shares of Nike from $83.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $113.41.
Shares of NKE stock traded down $0.24 during mid-day trading on Wednesday, reaching $119.03. The company’s stock had a trading volume of 353,138 shares, compared to its average volume of 7,756,601. The company’s 50 day simple moving average is $107.26 and its 200-day simple moving average is $94.68. Nike Inc has a 12-month low of $60.00 and a 12-month high of $120.48. 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 market capitalization of $186.06 billion, a PE ratio of 75.49, a price-to-earnings-growth ratio of 3.13 and a beta of 0.83.
Nike (NYSE:NKE) last issued its earnings results 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). Nike had a net margin of 6.79% and a return on equity of 32.95%. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $7.26 billion. During the same period in the prior year, the business posted $0.62 EPS. The business’s revenue was down 38.0% on a year-over-year basis. As a group, research analysts anticipate that Nike Inc will post 2.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, August 28th. Nike’s dividend payout ratio (DPR) is 52.97%.
In other Nike news, CAO Hilary K. Krane sold 11,000 shares of the firm’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $96.33, for a total transaction of $1,059,630.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 8,500 shares of the firm’s 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 disclosure for this sale can be found here. Insiders have sold a total of 143,356 shares of company stock worth $14,962,435 in the last ninety days. 3.80% of the stock is currently owned by insiders.
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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