Alta Capital Management LLC cut its stake in shares of Nike, Inc. (NYSE:NKE) by 19.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,556 shares of the footwear maker’s stock after selling 1,352 shares during the period. Alta Capital Management LLC’s holdings in Nike were worth $327,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. Waldron LP boosted its position in Nike by 90.8% during the first quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock valued at $496,000 after purchasing an additional 4,246 shares during the last quarter. Baystate Wealth Management LLC boosted its position in Nike by 15.2% during the first quarter. Baystate Wealth Management LLC now owns 4,548 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 601 shares during the last quarter. Sawgrass Asset Management LLC boosted its position in Nike by 113.3% during the first quarter. Sawgrass Asset Management LLC now owns 1,058,840 shares of the footwear maker’s stock valued at $59,009,000 after purchasing an additional 562,420 shares during the last quarter. Penobscot Investment Management Company Inc. boosted its position in Nike by 1.7% during the first quarter. Penobscot Investment Management Company Inc. now owns 82,008 shares of the footwear maker’s stock valued at $4,571,000 after purchasing an additional 1,390 shares during the last quarter. Finally, Bartlett & Co. LLC boosted its position in Nike by 17.2% during the first quarter. Bartlett & Co. LLC now owns 286,515 shares of the footwear maker’s stock valued at $15,967,000 after purchasing an additional 41,976 shares during the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares in the company, valued at $42,047,424.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is currently owned by company insiders.
Shares of Nike, Inc. (NKE) traded down 0.28% on Wednesday, reaching $53.18. The company’s stock had a trading volume of 3,063,590 shares. The firm has a market cap of $87.39 billion, a price-to-earnings ratio of 21.19 and a beta of 0.61. The stock has a 50 day moving average of $55.57 and a 200-day moving average of $55.39. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. On average, analysts anticipate that Nike, Inc. will post $2.41 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. Nike’s dividend payout ratio is currently 28.69%.
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Several brokerages recently commented on NKE. Piper Jaffray Companies set a $50.00 price target on Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Vetr cut Nike from a “buy” rating to a “hold” rating and set a $54.16 price target for the company. in a research report on Monday, June 5th. Robert W. Baird reissued an “outperform” rating and set a $62.00 price target on shares of Nike in a research report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $58.00 price target (down from $63.00) on shares of Nike in a research report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $60.04.
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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