Papp L Roy & Associates boosted its position in shares of Nike Inc. (NYSE:NKE) by 13.5% during the second quarter, Holdings Channel reports. The institutional investor owned 61,585 shares of the footwear maker’s stock after buying an additional 7,320 shares during the period. Papp L Roy & Associates’ holdings in Nike were worth $3,399,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Hudson Canyon Investment Counselors LLC raised its position in shares of Nike by 3.6% in the second quarter. Hudson Canyon Investment Counselors LLC now owns 28,433 shares of the footwear maker’s stock worth $1,570,000 after buying an additional 988 shares during the period. Burke & Herbert Bank & Trust Co. raised its position in shares of Nike by 20.3% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 3,934 shares of the footwear maker’s stock worth $217,000 after buying an additional 664 shares during the period. Private Wealth Partners LLC raised its position in shares of Nike by 1.1% in the second quarter. Private Wealth Partners LLC now owns 9,140 shares of the footwear maker’s stock worth $505,000 after buying an additional 100 shares during the period. Crossvault Capital Management LLC raised its position in shares of Nike by 9.8% in the second quarter. Crossvault Capital Management LLC now owns 93,944 shares of the footwear maker’s stock worth $5,186,000 after buying an additional 8,400 shares during the period. Finally, First National Trust Co. raised its position in shares of Nike by 3.5% in the second quarter. First National Trust Co. now owns 30,183 shares of the footwear maker’s stock worth $1,666,000 after buying an additional 1,012 shares during the period. 62.04% of the stock is currently owned by institutional investors.
Nike Inc. (NYSE:NKE) traded down 0.17% during trading on Thursday, reaching $52.03. The company’s stock had a trading volume of 9,391,223 shares. The company’s 50-day moving average is $56.14 and its 200-day moving average is $56.95. The stock has a market cap of $86.99 billion, a PE ratio of 23.48 and a beta of 0.56. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. The company had revenue of $9.06 billion for the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. Nike’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.34 earnings per share. Equities analysts expect that Nike Inc. will post $2.38 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, September 1st. Nike’s dividend payout ratio is currently 28.83%.
A number of brokerages recently issued reports on NKE. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Nike in a research report on Thursday. B. Riley reaffirmed a “neutral” rating and set a $55.00 target price on shares of Nike in a research report on Saturday, October 1st. Guggenheim began coverage on shares of Nike in a research report on Friday, September 30th. They set a “buy” rating and a $70.00 target price on the stock. Canaccord Genuity reaffirmed a “hold” rating and set a $52.00 target price on shares of Nike in a research report on Thursday, September 29th. Finally, Bank of America Corp. set a $55.00 price target on shares of Nike and gave the company a “hold” rating in a report on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $64.54.
In related news, EVP John F. Slusher sold 72,696 shares of Nike 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 transaction, the executive vice president now directly owns 231,861 shares of the company’s stock, valued at $13,389,972.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John C. Lechleiter acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was bought at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the purchase, the director now owns 27,560 shares of the company’s stock, valued at $1,452,963.20. The disclosure for this purchase can be found here. 3.90% of the stock is owned by corporate 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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