JNBA Financial Advisors maintained its position in Nike, Inc. (NYSE:NKE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,735 shares of the footwear maker’s stock at the end of the first quarter. JNBA Financial Advisors’ holdings in Nike were worth $320,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in NKE. Doyle Wealth Management bought a new position in Nike during the first quarter worth approximately $202,000. Cribstone Capital Management LLC boosted its position in Nike by 33.6% in the first quarter. Cribstone Capital Management LLC now owns 2,684 shares of the footwear maker’s stock worth $148,000 after buying an additional 675 shares during the period. Tompkins Financial Corp boosted its position in Nike by 6.6% in the first quarter. Tompkins Financial Corp now owns 49,399 shares of the footwear maker’s stock worth $3,036,000 after buying an additional 3,061 shares during the period. Baldwin Brothers Inc. MA boosted its position in Nike by 32.0% in the first quarter. Baldwin Brothers Inc. MA now owns 139,077 shares of the footwear maker’s stock worth $7,751,000 after buying an additional 33,725 shares during the period. Finally, Merriman Wealth Management LLC boosted its position in Nike by 10.6% in the first quarter. Merriman Wealth Management LLC now owns 40,686 shares of the footwear maker’s stock worth $2,267,000 after buying an additional 3,886 shares during the period. 63.47% of the stock is owned by hedge funds and other institutional investors.
Nike, Inc. (NKE) traded down 2.57% during trading on Monday, hitting $53.54. The company’s stock had a trading volume of 5,843,195 shares. The firm has a market cap of $87.98 billion, a P/E ratio of 21.33 and a beta of 0.59. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The firm has a 50 day moving average of $58.64 and a 200 day moving average of $55.77.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts predict that Nike, Inc. will post $2.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is 28.69%.
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A number of brokerages have recently issued reports on NKE. Stifel Nicolaus set a $66.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 22nd. Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 target price on shares of Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC reissued an “overweight” rating and issued a $65.00 target price on shares of Nike in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $60.54.
In other Nike news, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total value of $6,583,251.03. Following the sale, the insider now directly owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 over the last three months. 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’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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