CIBC World Markets Inc. Boosts Position in Nike Inc. (NKE)
CIBC World Markets Inc. boosted its position in shares of Nike Inc. (NYSE:NKE) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,206 shares of the footwear maker’s stock after buying an additional 1,898 shares during the period. CIBC World Markets Inc.’s holdings in Nike were worth $4,012,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Lone Pine Capital LLC increased its stake in shares of Nike by 52.6% in the second quarter. Lone Pine Capital LLC now owns 18,305,703 shares of the footwear maker’s stock valued at $1,010,475,000 after buying an additional 6,309,324 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Nike during the second quarter valued at $197,303,000. Janus Capital Management LLC increased its stake in shares of Nike by 14.4% in the second quarter. Janus Capital Management LLC now owns 25,453,224 shares of the footwear maker’s stock valued at $1,405,003,000 after buying an additional 3,203,177 shares during the last quarter. Carmignac Gestion increased its stake in shares of Nike by 148.9% in the third quarter. Carmignac Gestion now owns 5,259,454 shares of the footwear maker’s stock valued at $276,910,000 after buying an additional 3,146,536 shares during the last quarter. Finally, Vontobel Asset Management Inc. bought a new stake in shares of Nike during the second quarter valued at $175,750,000. 61.15% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded down 1.11% during midday trading on Wednesday, hitting $50.07. The stock had a trading volume of 8,168,380 shares. The company’s 50 day moving average price is $51.12 and its 200-day moving average price is $54.53. The firm has a market capitalization of $83.39 billion, a PE ratio of 22.59 and a beta of 0.48. Nike Inc. has a 1-year low of $49.01 and a 1-year high of $68.19.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share 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 net margin of 11.60% and a return on equity of 30.56%. Nike’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. Equities analysts predict that Nike Inc. will post $2.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 5th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. Nike’s dividend payout ratio is presently 28.83%.
Several equities research analysts have recently weighed in on NKE shares. Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $53.00 target price on shares of Nike in a research report on Wednesday, October 12th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.41 price target for the company in a report on Tuesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price target on shares of Nike in a report on Friday, August 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $62.00 price target on shares of Nike in a report on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating and issued a $66.00 price target on shares of Nike in a report on Sunday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $63.43.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total transaction of $7,467,000.00. Following the sale, the chairman now directly owns 1,985,225 shares of the company’s stock, valued at approximately $98,824,500.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Lechleiter purchased 1,000 shares of the business’s stock in a transaction on Friday, September 30th. The shares were acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the completion of the transaction, 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 currently owned by corporate insiders.
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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