National Planning Corp cut its position in Nike Inc. (NYSE:NKE) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,714 shares of the footwear maker’s stock after selling 611 shares during the period. National Planning Corp’s holdings in Nike were worth $259,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in NKE. Douglas Lane & Associates LLC purchased a new position in Nike during the first quarter worth approximately $478,000. ST Germain D J Co. Inc. increased its position in Nike by 21.6% in the first quarter. ST Germain D J Co. Inc. now owns 9,530 shares of the footwear maker’s stock worth $586,000 after buying an additional 1,690 shares during the period. OLD National Bancorp IN increased its position in Nike by 5.1% in the first quarter. OLD National Bancorp IN now owns 37,850 shares of the footwear maker’s stock worth $2,327,000 after buying an additional 1,848 shares during the period. Windward Capital Management Co. CA increased its position in Nike by 1.7% in the first quarter. Windward Capital Management Co. CA now owns 406,958 shares of the footwear maker’s stock worth $25,016,000 after buying an additional 6,936 shares during the period. Finally, UMB Bank N A MO increased its position in Nike by 6.9% in the first quarter. UMB Bank N A MO now owns 251,490 shares of the footwear maker’s stock worth $15,459,000 after buying an additional 16,315 shares during the period. Institutional investors own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) traded down 1.38% during mid-day trading on Monday, reaching $54.39. The company had a trading volume of 2,966,886 shares. The stock has a market cap of $91.25 billion, a PE ratio of 25.18 and a beta of 0.52. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19. The firm’s 50-day moving average price is $56.85 and its 200-day moving average price is $57.42.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given 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 1.16%. Nike’s dividend payout ratio (DPR) is presently 29.63%.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. B. Riley lowered Nike from a “buy” rating to a “neutral” rating and increased their target price for the company from $58.66 to $62.00 in a research note on Friday, August 26th. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 target price on shares of Nike in a research note on Friday, August 26th. Brean Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Nike in a research note on Sunday, August 21st. Finally, Vetr upgraded Nike from a “sell” rating to a “hold” rating and set a $56.94 target price for the company in a research note on Monday, August 29th. 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 company has a consensus rating of “Buy” and a consensus target price of $65.27.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction dated Friday, July 1st. The shares were bought at an average cost of $55.09 per share, with a total value of $55,090.00. Following the completion of the acquisition, the director now owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 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 disclosure for this sale can be found here. Company 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.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc. (NYSE:NKE).
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.