Kanawha Capital Management LLC boosted its stake in Nike Inc. (NYSE:NKE) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 139,137 shares of the footwear maker’s stock after buying an additional 5,562 shares during the period. Nike makes up about 1.3% of Kanawha Capital Management LLC’s holdings, making the stock its 28th largest position. Kanawha Capital Management LLC’s holdings in Nike were worth $7,680,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Allegis Investment Advisors LLC boosted its stake in shares of Nike by 66.9% in the first quarter. Allegis Investment Advisors LLC now owns 4,567 shares of the footwear maker’s stock valued at $281,000 after buying an additional 1,831 shares during the last quarter. Vision Capital Management Inc. purchased a new stake in shares of Nike during the first quarter valued at approximately $3,259,000. BlackRock Group LTD boosted its stake in shares of Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock valued at $726,236,000 after buying an additional 177,028 shares during the last quarter. Insight Capital Research & Management Inc. boosted its stake in shares of Nike by 0.3% in the first quarter. Insight Capital Research & Management Inc. now owns 30,958 shares of the footwear maker’s stock valued at $1,903,000 after buying an additional 86 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares during the last quarter. 62.08% of the stock is currently owned by hedge funds and other institutional investors.
Nike Inc. (NYSE:NKE) traded down 0.91% during mid-day trading on Monday, hitting $51.15. 4,482,561 shares of the stock traded hands. Nike Inc. has a one year low of $51.09 and a one year high of $68.19. The company has a 50 day moving average price of $54.79 and a 200-day moving average price of $56.49. The stock has a market capitalization of $85.52 billion, a PE ratio of 23.08 and a beta of 0.56.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS. Equities analysts anticipate that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is 28.83%.
NKE has been the topic of several recent analyst reports. Piper Jaffray Cos. reissued an “overweight” rating and set a $69.00 target price on shares of Nike in a report on Monday, June 20th. Jefferies Group reissued a “buy” rating and set a $67.00 target price (down previously from $74.00) on shares of Nike in a report on Tuesday, June 21st. Buckingham Research reissued a “buy” rating and set a $70.00 target price on shares of Nike in a report on Tuesday, June 21st. BB&T Corp. reaffirmed a “buy” rating and issued a $70.00 price target (down previously from $74.00) on shares of Nike in a report on Tuesday, June 21st. Finally, B. Riley reaffirmed a “buy” rating and issued a $66.00 price target on shares of Nike in a report on Wednesday, June 22nd. One equities 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 stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.99.
In other Nike news, Director John C. Lechleiter acquired 1,000 shares of the company’s stock in a transaction on Friday, September 30th. The stock was acquired at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now directly owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the completion of the sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company 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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