Nike Inc. (NKE) Position Raised by Dividend Assets Capital LLC
Dividend Assets Capital LLC raised its position in shares of Nike Inc. (NYSE:NKE) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,712,644 shares of the footwear maker’s stock after buying an additional 43,935 shares during the period. Nike accounts for 2.8% of Dividend Assets Capital LLC’s portfolio, making the stock its 10th largest position. Dividend Assets Capital LLC owned 0.10% of Nike worth $94,538,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. BlackRock Institutional Trust Company N.A. raised its stake in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares during the period. Wellington Management Group LLP raised its position in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the last quarter. BlackRock Group LTD raised its position in shares of Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock valued at $726,236,000 after buying an additional 177,028 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock valued at $711,300,000 after buying an additional 628,853 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt raised its position in shares of Nike by 161.5% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,210,000 shares of the footwear maker’s stock valued at $232,392,000 after buying an additional 2,600,000 shares during the last quarter. Hedge funds and other institutional investors own 62.04% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded up 0.04% during trading on Monday, reaching $52.67. The company had a trading volume of 7,632,543 shares. The company has a market cap of $88.06 billion, a price-to-earnings ratio of 23.77 and a beta of 0.56. The firm has a 50 day moving average price of $56.40 and a 200 day moving average price of $57.06. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.17. The firm earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $1.34 EPS. Analysts predict that Nike Inc. will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s payout ratio is 28.83%.
NKE has been the subject of several research reports. Deutsche Bank AG reissued a “buy” rating and issued a $75.00 price target on shares of Nike in a report on Sunday, September 25th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a report on Friday, September 16th. Morgan Stanley reissued a “hold” rating and issued a $60.00 price target on shares of Nike in a report on Wednesday, September 21st. Cowen and Company set a $63.00 price target on Nike and gave the stock a “buy” rating in a report on Tuesday, September 13th. Finally, Jefferies Group reissued a “buy” rating on shares of Nike in a report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $64.54.
In other news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the transaction, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Slusher sold 72,696 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total value of $4,198,194.00. Following the completion of the transaction, the executive vice president now owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. 3.90% of the stock is owned by 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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