Wrapmanager Inc. purchased a new position in shares of Nike Inc. (NYSE:NKE) during the second quarter, Holdings Channel reports. The fund purchased 5,649 shares of the footwear maker’s stock, valued at approximately $312,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CapWealth Advisors LLC raised its position in Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock valued at $104,000 after buying an additional 1,100 shares during the period. Brick & Kyle Associates raised its position in Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock valued at $111,000 after buying an additional 200 shares during the period. Cribstone Capital Management LLC acquired a new position in Nike during the second quarter valued at about $106,000. Gierl Augustine Investment Management Inc raised its position in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock valued at $111,000 after buying an additional 6 shares during the period. Finally, Banced Corp acquired a new position in Nike during the second quarter valued at about $258,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) opened at 54.57 on Tuesday. The firm has a market capitalization of $91.55 billion, a price-to-earnings ratio of 25.26 and a beta of 0.52. The stock’s 50 day moving average is $56.80 and its 200-day moving average is $57.36. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is currently 29.63%.
NKE has been the topic of several recent research reports. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $62.64 price target on the stock in a research report on Monday, May 30th. Deutsche Bank AG restated a “buy” rating on shares of Nike in a research report on Tuesday, May 31st. Morgan Stanley lowered shares of Nike from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $69.00 to $60.00 in a research report on Wednesday, June 1st. Bank of America Corp. lowered shares of Nike from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $60.00 in a research report on Wednesday, June 1st. Finally, Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $65.31.
In related news, EVP Hilary K. Krane sold 100,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $56.99, for a total value of $5,699,000.00. Following the transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the completion of the acquisition, the director now directly owns 23,682 shares in the company, valued at approximately $1,304,641.38. The disclosure for this purchase can be found here. 3.90% of the stock is currently 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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