Nike, Inc. (NKE) Position Boosted by Accredited Investors Inc.
Accredited Investors Inc. boosted its position in shares of Nike, Inc. (NYSE:NKE) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,167 shares of the footwear maker’s stock after buying an additional 19 shares during the period. Accredited Investors Inc.’s holdings in Nike were worth $232,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in NKE. Crestwood Advisors Group LLC purchased a new position in Nike during the first quarter worth approximately $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. purchased a new position in Nike during the first quarter worth approximately $118,000. Finally, Rational Advisors LLC raised its position in 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 in the last quarter. 63.47% of the stock is currently owned by institutional investors.
Nike, Inc. (NYSE:NKE) traded down 4.37% during midday trading on Friday, hitting $54.95. The stock had a trading volume of 22,905,183 shares. The stock has a market capitalization of $90.29 billion, a PE ratio of 21.89 and a beta of 0.59. The stock’s 50-day moving average is $58.64 and its 200-day moving average is $55.77. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. Nike’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts anticipate that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.31%. Nike’s dividend payout ratio (DPR) is currently 28.69%.
A number of research firms have recently commented on NKE. Piper Jaffray Companies set a $50.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub raised shares of Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 target price on the stock. in a research report on Monday, June 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $62.00 target price on shares of Nike in a research report on Friday, June 30th. Finally, Morgan Stanley reaffirmed a “neutral” rating and set a $56.00 target price on shares of Nike in a research report on Wednesday, June 7th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $61.04.
In other Nike news, CFO Andrew Campion sold 96,243 shares of the business’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 transaction, the chief financial officer now owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $59.00, for a total value of $2,950,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders have sold 492,360 shares of company stock valued at $28,485,174 in the last quarter. 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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