PGGM Investments increased its stake in Nike Inc. (NYSE:NKE) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 906,421 shares of the footwear maker’s stock after buying an additional 11,765 shares during the period. PGGM Investments’ holdings in Nike were worth $50,034,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in NKE. Genesee Valley Trust Co. increased its stake in shares of Nike by 2.1% in the second quarter. Genesee Valley Trust Co. now owns 36,643 shares of the footwear maker’s stock valued at $2,023,000 after buying an additional 752 shares during the period. Deltec Asset Management LLC bought a new stake in shares of Nike during the second quarter valued at approximately $2,444,000. Grimes & Company Inc. increased its stake in shares of Nike by 4.3% in the second quarter. Grimes & Company Inc. now owns 4,866 shares of the footwear maker’s stock valued at $269,000 after buying an additional 200 shares during the period. Trutina Financial LLC bought a new stake in shares of Nike during the second quarter valued at approximately $812,000. Finally, Douglas Lane & Associates LLC increased its stake in shares of Nike by 4.6% in the second quarter. Douglas Lane & Associates LLC now owns 8,139 shares of the footwear maker’s stock valued at $449,000 after buying an additional 357 shares during the period. 62.04% of the stock is owned by institutional investors.
Nike Inc. (NYSE:NKE) traded up 1.73% during mid-day trading on Tuesday, reaching $55.34. The company had a trading volume of 17,945,212 shares. The firm has a 50-day moving average of $56.79 and a 200 day moving average of $57.33. The company has a market capitalization of $92.84 billion, a PE ratio of 25.62 and a beta of 0.52. Nike Inc. has a 1-year low of $51.48 and a 1-year high of $68.19.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nike had a return on equity of 29.57% and a net margin of 11.61%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. On average, analysts predict that Nike Inc. will post $2.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio is presently 29.63%.
Several analysts have recently commented on the stock. Nomura reaffirmed a “buy” rating and set a $64.00 price objective on shares of Nike in a research report on Tuesday. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $62.00 target price on shares of Nike in a report on Tuesday. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $58.12 target price on the stock in a report on Monday. B. Riley cut their target price on Nike from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $75.00 target price on shares of Nike in a report on Sunday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.15.
In other news, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was acquired at an average price of $55.09 per share, for a total transaction of $55,090.00. Following the acquisition, the director now directly owns 23,682 shares of the company’s stock, valued at approximately $1,304,641.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction that occurred 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 transaction, 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. Company insiders own 3.90% of the company’s stock.
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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