Solaris Asset Management LLC continued to hold its position in shares of Nike Inc. (NYSE:NKE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,250 shares of the footwear maker’s stock at the end of the second quarter. Solaris Asset Management LLC’s holdings in Nike were worth $511,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. Capstone Asset Management Co. boosted its stake in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock valued at $21,220,000 after buying an additional 29,538 shares during the last quarter. National Pension Service boosted its stake in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock valued at $43,599,000 after buying an additional 27,918 shares during the last quarter. Gofen & Glossberg LLC IL boosted its stake in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock valued at $16,806,000 after buying an additional 2,890 shares during the last quarter. AMP Capital Investors Ltd acquired a new stake in Nike during the first quarter valued at about $37,460,000. Finally, Bath Savings Trust Co boosted its stake in Nike by 2.8% in the second quarter. Bath Savings Trust Co now owns 202,524 shares of the footwear maker’s stock valued at $11,179,000 after buying an additional 5,515 shares during the last quarter. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
Nike Inc. (NYSE:NKE) traded up 0.94% during mid-day trading on Friday, reaching $52.65. 12,940,220 shares of the company were exchanged. Nike Inc. has a 1-year low of $51.48 and a 1-year high of $68.19. The company has a 50 day moving average of $56.51 and a 200-day moving average of $57.20. 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 quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The company had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. On average, equities research analysts forecast that Nike Inc. will post $2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors 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 1.22%. Nike’s dividend payout ratio is presently 28.83%.
Several analysts recently issued reports on NKE shares. Deutsche Bank AG reissued a “buy” rating and issued a $75.00 target price on shares of Nike in a research note on Sunday, September 25th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research note on Friday, September 16th. Morgan Stanley reissued a “hold” rating and issued a $60.00 target price on shares of Nike in a research note on Wednesday, September 21st. Cowen and Company set a $63.00 target price on Nike and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Finally, Jefferies Group reissued a “buy” rating on shares of Nike in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company. Nike has a consensus rating of “Buy” and an average target price of $64.35.
In related news, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the sale, the executive vice president now owns 231,861 shares in the company, valued at $13,389,972.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Corporate 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.
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