FUKOKU MUTUAL LIFE INSURANCE Co decreased its position in shares of Nike Inc. (NYSE:NKE) by 45.0% during the second quarter, Holdings Channel reports. The fund owned 6,100 shares of the footwear maker’s stock after selling 5,000 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Nike were worth $337,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Eastern Bank increased its stake in Nike by 1,707.0% in the first quarter. Eastern Bank now owns 172,031 shares of the footwear maker’s stock worth $10,575,000 after buying an additional 162,511 shares during the last quarter. Quotient Investors LLC increased its stake in Nike by 298.8% in the first quarter. Quotient Investors LLC now owns 14,773 shares of the footwear maker’s stock worth $908,000 after buying an additional 11,069 shares during the last quarter. Jacobs & Co. CA increased its stake in Nike by 14.9% in the first quarter. Jacobs & Co. CA now owns 82,501 shares of the footwear maker’s stock worth $5,071,000 after buying an additional 10,710 shares during the last quarter. Mission Wealth Management LLC acquired a new stake in Nike during the first quarter worth about $276,000. Finally, Wagner Bowman Management Corp increased its stake in Nike by 0.4% in the first quarter. Wagner Bowman Management Corp now owns 51,644 shares of the footwear maker’s stock worth $3,174,000 after buying an additional 227 shares during the last quarter. 62.04% of the stock is currently owned by institutional investors.
Shares of Nike Inc. (NYSE:NKE) opened at 55.15 on Friday. The firm’s 50-day moving average is $56.85 and its 200 day moving average is $57.42. Nike Inc. has a 52 week low of $51.48 and a 52 week high of $68.19. The firm has a market cap of $92.52 billion, a PE ratio of 25.53 and a beta of 0.52.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The business earned $8.24 billion during the quarter, compared to the consensus estimate of $8.28 billion. Nike had a return on equity of 29.57% and a net margin of 11.61%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. Equities research analysts forecast that Nike Inc. will post $2.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 1st. Nike’s payout ratio is currently 29.63%.
A number of equities research analysts recently issued reports on NKE shares. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $62.64 price target on the stock in a research note on Monday, May 30th. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research note on Tuesday, May 31st. Morgan Stanley downgraded shares of Nike from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $69.00 to $60.00 in a research note on Wednesday, June 1st. Bank of America Corp. downgraded shares of Nike from a “buy” rating to a “neutral” rating and reduced their target price for the company from $72.00 to $60.00 in a research note on Wednesday, June 1st. Finally, Zacks Investment Research downgraded shares of Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. Nike presently has a consensus rating of “Buy” and an average target price of $65.50.
In other news, EVP Hilary K. Krane sold 100,000 shares of the company’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 transaction of $5,699,000.00. Following the completion of the sale, the executive vice president now owns 310,795 shares in the company, valued at $17,712,207.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were bought at an average price of $55.09 per share, with a total value of $55,090.00. Following the purchase, the director now directly owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The disclosure for this purchase can be found here. 3.90% of the stock is owned by insiders.
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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