Hexavest Inc. Increases Stake in Nike Inc (NKE)
Hexavest Inc. boosted its position in shares of Nike Inc (NYSE:NKE) by 7.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 862,893 shares of the footwear maker’s stock after buying an additional 58,427 shares during the period. Hexavest Inc. owned about 0.05% of Nike worth $48,089,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Norges Bank purchased a new stake in Nike during the fourth quarter valued at about $463,411,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Nike during the fourth quarter valued at $165,446,000. Russell Investments Group Ltd. bought a new position in shares of Nike during the fourth quarter valued at $157,179,000. State Street Corp increased its position in Nike by 4.6% in the fourth quarter. State Street Corp now owns 58,719,250 shares of the footwear maker’s stock valued at $2,984,719,000 after buying an additional 2,563,166 shares during the period. Finally, Morgan Stanley increased its position in Nike by 10.1% in the third quarter. Morgan Stanley now owns 22,764,806 shares of the footwear maker’s stock valued at $1,198,567,000 after buying an additional 2,090,700 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) traded up 0.3048% during trading on Friday, reaching $51.8375. 7,451,642 shares of the company traded hands. Nike Inc has a 12 month low of $49.01 and a 12 month high of $60.33. The company has a 50-day moving average of $54.89 and a 200-day moving average of $53.84. The stock has a market capitalization of $85.57 billion, a PE ratio of 21.6260 and a beta of 0.44.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. The firm had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.47 billion. Nike had a net margin of 11.60% and a return on equity of 31.70%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS. Analysts forecast that Nike Inc will post $2.40 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date is Thursday, June 1st. Nike’s payout ratio is 31.72%.
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NKE has been the subject of a number of research reports. CLSA initiated coverage on shares of Nike in a report on Thursday, January 19th. They issued an “underperform” rating and a $55.00 target price for the company. Atlantic Securities assumed coverage on shares of Nike in a report on Thursday, January 19th. They issued an “overweight” rating and a $65.00 price objective for the company. Forward View assumed coverage on shares of Nike in a report on Friday, January 27th. They set a “hold” rating and a $55.00 price target for the company. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $61.71 price target for the company. in a report on Thursday, February 9th. Finally, Deutsche Bank AG raised their price objective on shares of Nike from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $60.93.
In other Nike news, CAO Hilary K. Krane sold 65,000 shares of Nike stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $56.00, for a total transaction of $3,640,000.00. Following the completion of the transaction, the chief accounting officer now owns 270,795 shares of the company’s stock, valued at approximately $15,164,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Thompson, Jr. sold 14,000 shares of the business’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $56.45, for a total value of $790,300.00. Following the transaction, the director now directly owns 55,660 shares of the company’s stock, valued at approximately $3,142,007. The disclosure for this sale can be found here. Insiders have sold a total of 379,000 shares of company stock worth $21,213,800 over the last quarter. Company insiders own 3.90% of the company’s stock.
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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