Nike, Inc. (NKE) Stake Reduced by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. decreased its stake in shares of Nike, Inc. (NYSE:NKE) by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,724 shares of the footwear maker’s stock after selling 12,758 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Nike were worth $10,462,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in NKE. Crestwood Advisors Group LLC bought a new position in Nike during the first quarter worth $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 worth $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 worth $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 approximately $118,000. Finally, Rational Advisors LLC increased its stake in shares of Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares during the last quarter. Institutional investors own 63.47% of the company’s stock.
Shares of Nike, Inc. (NKE) traded down 4.37% during midday trading on Friday, reaching $54.95. The company’s stock had a trading volume of 22,905,183 shares. The firm has a market capitalization of $90.29 billion, a P/E ratio of 21.89 and a beta of 0.59. The stock has a 50-day moving average of $58.64 and a 200 day moving average of $55.77. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. Nike also saw some unusual options trading activity on Wednesday. Investors purchased 14,365 call options on the stock. This is an increase of approximately 228% compared to the typical volume of 4,379 call options.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. Equities research analysts predict that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.31%. Nike’s dividend payout ratio is currently 28.69%.
A number of research firms have issued reports on NKE. Piper Jaffray Companies set a $50.00 target price on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $54.16 price target for the company. in a report on Monday, June 5th. Robert W. Baird reissued an “outperform” rating and set a $62.00 price objective on shares of Nike in a research note on Friday, June 30th. Finally, Morgan Stanley reissued a “neutral” rating and set a $56.00 price objective on shares of Nike in a research note on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $61.04.
In related news, CAO Hilary K. Krane sold 28,072 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the sale, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at approximately $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the sale, the insider now directly owns 300,108 shares in the company, valued at $17,706,372. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 492,360 shares of company stock worth $28,485,174. 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.
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.