Bartlett & Co. LLC increased its stake in Nike Inc. (NYSE:NKE) by 2.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,504 shares of the footwear maker’s stock after buying an additional 240 shares during the period. Bartlett & Co. LLC’s holdings in Nike were worth $635,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. CapWealth Advisors LLC raised its stake in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after buying an additional 1,100 shares in the last quarter. Brick & Kyle Associates raised its position in shares of Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the period. Cribstone Capital Management LLC acquired a new position in shares of Nike during the second quarter worth about $106,000. Gierl Augustine Investment Management Inc raised its position in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the period. Finally, Banced Corp acquired a new position in shares of Nike during the second quarter worth about $258,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded up 0.94% on Friday, reaching $52.65. The company had a trading volume of 12,940,220 shares. The stock has a 50 day moving average price of $56.51 and a 200-day moving average price of $57.20. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19. The company has a market capitalization of $88.03 billion, a price-to-earnings ratio of 23.76 and a beta of 0.52.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The company had revenue of $9.06 billion for the quarter. During the same period in the prior year, the business earned $1.34 EPS. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts forecast that Nike Inc. will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio is presently 28.83%.
A number of brokerages have recently issued reports on NKE. Vetr lowered Nike from a “hold” rating to a “sell” rating and set a $54.86 target price on the stock. in a research report on Monday, July 11th. Barclays PLC set a $70.00 price objective on Nike and gave the company a “buy” rating in a report on Monday, September 12th. Citigroup Inc. raised their price objective on Nike from $61.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley restated a “neutral” rating and issued a $55.00 price objective (down previously from $62.00) on shares of Nike in a report on Monday. Finally, OTR Global lowered Nike to a “positive” rating in a report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company. Nike currently has a consensus rating of “Buy” and a consensus target price of $64.35.
In related news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the completion of the sale, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Nike Company Profile
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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