Mar Vista Investment Partners LLC Takes Position in Nike Inc. (NKE)
Mar Vista Investment Partners LLC purchased a new position in shares of Nike Inc. (NYSE:NKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 201,205 shares of the footwear maker’s stock, valued at approximately $11,107,000.
Several other large investors also recently made changes to their positions in the stock. Carderock Capital Management Inc. boosted its stake in shares of Nike by 17.8% in the first quarter. Carderock Capital Management Inc. now owns 80,285 shares of the footwear maker’s stock worth $4,935,000 after buying an additional 12,108 shares in the last quarter. Compton Capital Management Inc. RI boosted its stake in shares of Nike by 0.4% in the first quarter. Compton Capital Management Inc. RI now owns 75,998 shares of the footwear maker’s stock worth $4,672,000 after buying an additional 300 shares in the last quarter. B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Nike by 5.7% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 35,085 shares of the footwear maker’s stock worth $2,157,000 after buying an additional 1,889 shares in the last quarter. Badgley Phelps & Bell Inc. boosted its stake in shares of Nike by 13.6% in the first quarter. Badgley Phelps & Bell Inc. now owns 5,987 shares of the footwear maker’s stock worth $368,000 after buying an additional 718 shares in the last quarter. Finally, Virginia Retirement System bought a new stake in shares of Nike during the first quarter worth $26,653,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 0.46% on Friday, hitting $51.79. 8,396,264 shares of the stock traded hands. The stock has a market cap of $86.59 billion, a price-to-earnings ratio of 23.37 and a beta of 0.56. The company’s 50 day moving average is $56.00 and its 200 day moving average is $56.91. Nike Inc. has a one year low of $51.48 and a one year 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 analysts’ consensus estimates of $0.56 by $0.17. The firm had revenue of $9.06 billion for the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. Nike’s revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 earnings per share. On average, equities analysts forecast that Nike Inc. will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s payout ratio is currently 28.83%.
A number of brokerages recently weighed in on NKE. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. B. Riley cut shares of Nike from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $58.66 to $62.00 in a report on Friday, August 26th. Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Nike in a report on Friday, August 26th. Brean Capital restated a “buy” rating and issued a $62.00 price objective on shares of Nike in a report on Sunday, August 21st. Finally, Vetr upgraded shares of Nike from a “sell” rating to a “hold” rating and set a $56.94 price objective for the company in a report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $64.54.
In related news, Director John C. Lechleiter purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were purchased at an average price of $52.72 per share, with a total value of $52,720.00. Following the purchase, the director now owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction dated Tuesday, July 26th. The stock was 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 directly owns 231,861 shares in the company, valued at approximately $13,389,972.75. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
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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