North Star Asset Management Inc. reduced its position in Nike Inc. (NYSE:NKE) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 57,473 shares of the footwear maker’s stock after selling 475 shares during the period. North Star Asset Management Inc.’s holdings in Nike were worth $3,172,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. CapWealth Advisors LLC boosted its stake in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Cribstone Capital Management LLC bought a new stake in shares of Nike during the second quarter worth approximately $106,000. Gierl Augustine Investment Management Inc boosted its stake in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the last quarter. CWM LLC boosted its stake in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the last quarter. Finally, Oakworth Capital Inc. boosted its stake in shares of Nike by 78.9% in the second quarter. Oakworth Capital Inc. now owns 2,720 shares of the footwear maker’s stock worth $150,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 62.08% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded up 0.73% during trading on Tuesday, hitting $51.40. The company had a trading volume of 3,726,177 shares. The stock’s 50-day moving average is $54.56 and its 200 day moving average is $56.33. Nike Inc. has a 52-week low of $50.96 and a 52-week high of $68.19. The firm has a market capitalization of $85.94 billion, a P/E ratio of 23.19 and a beta of 0.56.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.56 by $0.17. The firm 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%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.34 EPS. Equities research analysts predict that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.
Several analysts recently issued reports on the company. Vetr cut Nike from a “hold” rating to a “sell” rating and set a $54.86 target price for the company. in a research report on Monday, July 11th. Barclays PLC set a $70.00 target price on Nike and gave the stock a “buy” rating in a research report on Monday, September 12th. Citigroup Inc. increased their target price on Nike from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. B. Riley reiterated a “neutral” rating and set a $55.00 target price (down previously from $62.00) on shares of Nike in a research report on Monday, September 26th. Finally, Bank of America Corp. set a $55.00 target price on Nike and gave the stock a “hold” rating in a research report on Wednesday, September 28th. One equities 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’s stock. The company presently has a consensus rating of “Buy” and an average target price of $63.99.
In other Nike news, Director John C. Lechleiter bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now directly owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the completion of the transaction, the executive vice president now directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Nike Company Profile
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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