Nike, Inc. (NKE) Shares Bought by CMH Wealth Management LLC
CMH Wealth Management LLC boosted its stake in shares of Nike, Inc. (NYSE:NKE) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,295 shares of the footwear maker’s stock after buying an additional 985 shares during the period. CMH Wealth Management LLC’s holdings in Nike were worth $1,371,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. V Wealth Management LLC purchased a new stake in Nike during the second quarter valued at $100,000. Crestwood Advisors Group LLC purchased a new stake in Nike during the first quarter valued at $117,000. Webster Bank N. A. increased its stake 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 during the last quarter. Asset Planning Services Ltd. purchased a new stake in Nike during the first quarter valued at $118,000. Finally, Rational Advisors LLC increased its stake in Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares during the last quarter. 63.47% of the stock is owned by institutional investors and hedge funds.
Nike, Inc. (NYSE NKE) traded down 0.4088% during trading on Friday, hitting $53.6199. The stock had a trading volume of 3,264,192 shares. The company has a market cap of $88.11 billion, a P/E ratio of 21.3625 and a beta of 0.59. The company has a 50 day moving average of $58.12 and a 200-day moving average of $55.79. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts predict that Nike, Inc. will post $2.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is 28.69%.
Several brokerages recently weighed in on NKE. Piper Jaffray Companies set a $50.00 price target on Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Vetr downgraded 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 reaffirmed an “outperform” rating and set a $62.00 price target on shares of Nike in a report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $58.00 price target (down from $63.00) on shares of Nike in a report on Monday. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $60.54.
In related news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction dated 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 sale, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction dated 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 directly owns 729,610 shares in the company, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock worth $28,485,174 in the last three months. Company insiders own 3.90% of the company’s stock.
Nike Company Profile
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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