Alps Advisors Inc. raised its stake in Nike Inc. (NYSE:NKE) by 24.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,451 shares of the footwear maker’s stock after buying an additional 1,886 shares during the period. Alps Advisors Inc.’s holdings in Nike were worth $522,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Telemus Capital LLC raised its position in Nike by 73.8% in the first quarter. Telemus Capital LLC now owns 28,501 shares of the footwear maker’s stock valued at $1,752,000 after buying an additional 12,105 shares during the period. Apex Capital Management raised its position in Nike by 100.3% in the first quarter. Apex Capital Management now owns 14,361 shares of the footwear maker’s stock valued at $883,000 after buying an additional 7,192 shares during the period. Sanders Morris Harris Inc. purchased a new position in Nike during the first quarter valued at approximately $308,000. Sii Investments Inc. WI raised its position in Nike by 13.4% in the first quarter. Sii Investments Inc. WI now owns 19,905 shares of the footwear maker’s stock valued at $1,222,000 after buying an additional 2,354 shares during the period. Finally, Investment Centers of America Inc. raised its position in Nike by 23.4% in the first quarter. Investment Centers of America Inc. now owns 10,741 shares of the footwear maker’s stock valued at $656,000 after buying an additional 2,040 shares during the period. Hedge funds and other institutional investors own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) traded up 0.04% during mid-day trading on Monday, reaching $52.67. The company had a trading volume of 7,632,543 shares. Nike Inc. has a 52-week low of $51.48 and a 52-week high of $68.19. The company’s 50 day moving average is $56.40 and its 200 day moving average is $57.06. The stock has a market capitalization of $88.06 billion, a price-to-earnings ratio of 23.77 and a beta of 0.56.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm had revenue of $9.06 billion for the quarter. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities analysts predict that Nike Inc. will post $2.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio is 28.83%.
Several research analysts have commented on the company. Vetr lowered Nike from a “hold” rating to a “sell” rating and set a $54.86 price target on the stock. in a research report on Monday, July 11th. Barclays PLC set a $70.00 target price on Nike and gave the company a “buy” rating in a report on Monday, September 12th. Citigroup Inc. boosted their target price on Nike from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, September 28th. B. Riley reissued a “neutral” rating and issued a $55.00 target price (down previously from $62.00) on shares of Nike in a report on Monday, September 26th. Finally, OTR Global lowered Nike to a “positive” rating in a report on Thursday, June 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $64.54.
In related news, EVP Hilary K. Krane sold 100,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the transaction, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the transaction, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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