ZWJ Investment Counsel Inc. decreased its position in Nike, Inc. (NYSE:NKE) by 9.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,575 shares of the footwear maker’s stock after selling 946 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Nike were worth $565,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. State Street Corp raised its holdings in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after acquiring an additional 835,003 shares in the last quarter. Wellington Management Group LLP raised its holdings in Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after purchasing an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Nike by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock worth $1,621,066,000 after purchasing an additional 144,846 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Nike by 9.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after purchasing an additional 1,130,409 shares in the last quarter. Finally, Edgewood Management LLC raised its holdings in Nike by 3.9% during the first quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock worth $661,710,000 after purchasing an additional 441,507 shares in the last quarter. 62.55% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on NKE shares. Nomura reissued a “buy” rating and set a $60.00 price objective on shares of Nike in a report on Friday, June 30th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a report on Wednesday, October 4th. Telsey Advisory Group cut their price objective on shares of Nike from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. Cowen and Company raised their price objective on shares of Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a report on Friday, June 30th. Finally, Jefferies Group LLC cut shares of Nike from a “buy” rating to a “hold” rating and cut their price objective for the stock from $75.00 to $60.00 in a report on Monday, August 21st. Four equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $59.14.
Shares of Nike, Inc. (NYSE NKE) opened at 52.00 on Wednesday. The stock has a market cap of $85.23 billion, a PE ratio of 22.14 and a beta of 0.61. The firm has a 50-day moving average price of $52.64 and a 200 day moving average price of $54.80. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the business earned $0.73 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts predict that Nike, Inc. will post $2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, August 31st. Nike’s dividend payout ratio (DPR) is presently 30.64%.
In other news, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the sale, the insider now directly owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the sale, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Insiders have sold a total of 134,045 shares of company stock valued at $7,778,338 over the last ninety days. Company insiders own 3.90% of the company’s stock.
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Nike Company Profile
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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