RB Capital Management LLC Has $2.04 Million Stake in Nike, Inc. (NYSE:NKE)
RB Capital Management LLC lowered its position in Nike, Inc. (NYSE:NKE) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,576 shares of the footwear maker’s stock after selling 884 shares during the period. Nike makes up about 1.9% of RB Capital Management LLC’s investment portfolio, making the stock its 11th largest position. RB Capital Management LLC’s holdings in Nike were worth $2,038,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. Crestwood Advisors Group LLC bought a new position in Nike during the first quarter valued at about $117,000. Webster Bank N. A. raised its position in Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. Gierl Augustine Investment Management Inc raised its position in Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock valued at $118,000 after buying an additional 107 shares in the last quarter. Asset Planning Services Ltd. acquired a new stake in shares of Nike during the first quarter worth $118,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of Nike during the fourth quarter worth $120,000. 64.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike, Inc. (NYSE:NKE) traded up 0.59% during trading on Thursday, hitting $60.14. The stock had a trading volume of 5,665,434 shares. The firm has a market capitalization of $78.91 billion, a P/E ratio of 23.96 and a beta of 0.59. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53. The stock’s 50-day moving average price is $56.38 and its 200 day moving average price is $55.29.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. Nike’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. On average, analysts anticipate that Nike, Inc. will post $2.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Monday, June 5th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.72 annualized dividend and a yield of 1.20%. Nike’s dividend payout ratio (DPR) is currently 28.69%.
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A number of analysts have recently weighed in on NKE shares. Argus set a $55.00 target price on Nike in a research note on Wednesday, April 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $64.00 price objective on shares of Nike in a research report on Monday, April 10th. Berenberg Bank initiated coverage on Nike in a research report on Tuesday, May 16th. They issued a “buy” rating and a $70.00 price objective for the company. Instinet reiterated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Finally, Nomura reiterated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.04.
In other news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares in the company, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the sale, the insider now owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 492,360 shares of company stock valued at $28,485,174. 3.90% of the stock is owned by company 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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