British Columbia Investment Management Corp Acquires 14,377 Shares of Nike Inc. (NKE)
British Columbia Investment Management Corp raised its position in Nike Inc. (NYSE:NKE) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,304,184 shares of the footwear maker’s stock after buying an additional 14,377 shares during the period. British Columbia Investment Management Corp owned about 0.08% of Nike worth $68,665,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. SevenBridge Financial Group LLC purchased a new stake in Nike during the second quarter worth approximately $100,000. Cribstone Capital Management LLC purchased a new stake in Nike during the second quarter worth approximately $106,000. Gierl Augustine Investment Management Inc raised its stake in 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 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 purchased a new stake in Nike during the second quarter worth approximately $125,000. Hedge funds and other institutional investors own 61.15% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) opened at 51.01 on Tuesday. The company has a market capitalization of $84.95 billion, a P/E ratio of 23.02 and a beta of 0.48. Nike Inc. has a 52-week low of $49.01 and a 52-week high of $68.19. The stock’s 50 day moving average price is $51.15 and its 200 day moving average price is $54.58.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The business had revenue of $9.06 billion for the quarter. During the same quarter in the previous year, the company posted $1.34 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts forecast that Nike Inc. will post $2.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 5th will be issued a $0.18 dividend. The ex-dividend date is Thursday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Nike’s previous quarterly dividend of $0.16. Nike’s dividend payout ratio is presently 28.83%.
NKE has been the subject of a number of recent analyst reports. Brean Capital reiterated a “buy” rating and set a $62.00 price target on shares of Nike in a report on Sunday, August 21st. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective on shares of Nike in a research report on Friday, August 26th. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research report on Wednesday, August 10th. 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. Finally, Jefferies Group reissued a “buy” rating on shares of Nike in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, eleven 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 a consensus price target of $63.43.
In other news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $49.78, for a total value of $7,467,000.00. Following the transaction, the chairman now owns 1,985,225 shares in the company, valued at approximately $98,824,500.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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, for a total transaction of $52,720.00. Following the purchase, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase 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’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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