Nike, Inc. (NKE) Shares Sold by Homrich & Berg
Homrich & Berg reduced its stake in Nike, Inc. (NYSE:NKE) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,815 shares of the footwear maker’s stock after selling 252 shares during the period. Homrich & Berg’s holdings in Nike were worth $436,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Accredited Investors Inc. increased its position in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust increased its position in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after buying an additional 24 shares during the period. Intrust Bank NA increased its position in Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC increased its position in Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after buying an additional 50 shares during the period. 62.71% of the stock is currently owned by hedge funds and other institutional investors.
Nike, Inc. (NYSE:NKE) traded up 0.066% during trading on Wednesday, hitting $52.765. 2,320,477 shares of the stock traded hands. The company’s 50 day moving average price is $58.03 and its 200 day moving average price is $55.80. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The company has a market cap of $86.70 billion, a P/E ratio of 21.022 and a beta of 0.59.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The company 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. Nike’s quarterly 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 company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.
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Several equities analysts have recently commented on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 target price on shares of Nike in a report on Friday, May 5th. Morgan Stanley reissued an “equal weight” rating and issued a $56.00 target price on shares of Nike in a report on Wednesday, June 21st. Credit Suisse Group set a $63.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Saturday, June 24th. UBS AG restated a “buy” rating and issued a $62.00 price target (down previously from $63.00) on shares of Nike in a research report on Tuesday, June 27th. Finally, Nomura restated a “buy” rating and issued a $60.00 price target on shares of Nike in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $60.36.
In other Nike news, CFO Andrew Campion sold 5,722 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction that occurred 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 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. In the last ninety days, insiders have sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently 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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