Signature Estate & Investment Advisors LLC raised its holdings in shares of Nike Inc (NYSE:NKE) by 4.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,991 shares of the footwear maker’s stock after acquiring an additional 2,341 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Nike were worth $4,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. HCR Wealth Advisors increased its holdings in shares of Nike by 1.8% in the second quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock worth $1,174,000 after purchasing an additional 250 shares during the period. FMR LLC increased its holdings in shares of Nike by 27.0% in the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after purchasing an additional 4,908,916 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Nike by 0.4% in the first quarter. Nisa Investment Advisors LLC now owns 505,176 shares of the footwear maker’s stock worth $42,541,000 after purchasing an additional 2,100 shares during the period. Rhumbline Advisers increased its holdings in shares of Nike by 0.9% in the first quarter. Rhumbline Advisers now owns 2,227,033 shares of the footwear maker’s stock worth $187,538,000 after purchasing an additional 19,393 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its holdings in shares of Nike by 6.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 285,378 shares of the footwear maker’s stock worth $24,032,000 after purchasing an additional 18,245 shares during the period. 66.15% of the stock is currently owned by institutional investors and hedge funds.
NYSE:NKE traded down $1.05 during midday trading on Thursday, hitting $79.98. The company had a trading volume of 323,457 shares, compared to its average volume of 5,893,333. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00. The stock has a fifty day simple moving average of $85.35. The firm has a market cap of $127.94 billion, a P/E ratio of 31.98, a PEG ratio of 2.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The business had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Nike Inc will post 2.9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.10%. Nike’s payout ratio is 35.34%.
In other Nike news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total transaction of $9,378,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the sale, the director now owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,637 shares of company stock valued at $16,767,237. Company insiders own 3.80% of the company’s stock.
NKE has been the topic of several research analyst reports. UBS Group set a $85.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Monday, June 17th. Goldman Sachs Group set a $83.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Monday, July 1st. Morgan Stanley upped their price target on shares of Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Piper Jaffray Companies set a $97.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $97.00 price target on shares of Nike in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $90.02.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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