BNP Paribas Arbitrage SA Increases Position in Nike Inc. (NKE)
BNP Paribas Arbitrage SA increased its position in shares of Nike Inc. (NYSE:NKE) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 892,711 shares of the footwear maker’s stock after buying an additional 68,221 shares during the period. BNP Paribas Arbitrage SA owned about 0.05% of Nike worth $47,001,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. SevenBridge Financial Group LLC bought a new stake in shares of Nike during the second quarter worth $100,000. Cribstone Capital Management LLC bought a new stake in shares of Nike during the second quarter worth $106,000. Gierl Augustine Investment Management Inc raised its stake in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares in the last quarter. CWM LLC raised its stake in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. Finally, First Personal Financial Services bought a new stake in shares of Nike during the second quarter worth $125,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 0.95% on Friday, hitting $51.10. 7,461,602 shares of the company traded hands. The company has a market capitalization of $85.10 billion, a PE ratio of 23.06 and a beta of 0.48. Nike Inc. has a 12 month low of $49.01 and a 12 month high of $68.19. The stock’s 50-day moving average price is $51.76 and its 200-day moving average price is $55.22.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, topping the consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company earned $9.06 billion during the quarter. During the same quarter last year, the firm earned $1.34 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that Nike Inc. will post $2.37 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.16. Nike’s payout ratio is 28.83%.
NKE has been the subject of a number of recent research reports. Barclays PLC set a $70.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Monday, September 12th. Citigroup Inc. boosted their price objective on shares of Nike from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $58.05 price objective for the company. in a research report on Thursday, October 27th. B. Riley reissued a “neutral” rating and set a $55.00 price objective (down previously from $62.00) on shares of Nike in a research report on Monday, September 26th. Finally, Bank of America Corp. set a $55.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.43.
In other news, Director John C. Lechleiter purchased 1,000 shares of the stock in a transaction on Friday, September 30th. The stock was bought at an average price of $52.72 per share, for a total transaction of $52,720.00. Following the acquisition, the director now directly owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $49.78, for a total transaction of $7,467,000.00. Following the transaction, the chairman now owns 1,985,225 shares of the company’s stock, valued at approximately $98,824,500.50. The disclosure for this sale can be found here. Company 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’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.
Receive News & Stock Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related stocks with our FREE daily email newsletter.