Jacobson & Schmitt Advisors LLC Has $5.72 Million Position in Nike, Inc. (NKE)
Jacobson & Schmitt Advisors LLC boosted its position in shares of Nike, Inc. (NYSE:NKE) by 2.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,640 shares of the footwear maker’s stock after buying an additional 1,981 shares during the period. Nike makes up about 4.0% of Jacobson & Schmitt Advisors LLC’s holdings, making the stock its 6th largest position. Jacobson & Schmitt Advisors LLC’s holdings in Nike were worth $5,720,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. raised its position in shares of 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. Crestwood Advisors Group LLC bought a new position in shares of Nike during the first quarter valued at about $117,000. Rational Advisors LLC raised its position 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 valued at $143,000 after buying an additional 321 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Nike during the first quarter valued at about $169,000. Finally, North Star Investment Management Corp. raised its position in shares of Nike by 3.5% in the first quarter. North Star Investment Management Corp. now owns 3,080 shares of the footwear maker’s stock valued at $172,000 after buying an additional 103 shares in the last quarter. Institutional investors own 62.71% of the company’s stock.
Shares of Nike, Inc. (NKE) traded up 0.78% during midday trading on Friday, reaching $53.22. 2,212,606 shares of the company’s stock were exchanged. The stock has a market cap of $87.45 billion, a price-to-earnings ratio of 21.20 and a beta of 0.59. The firm has a 50 day moving average of $57.44 and a 200-day moving average of $55.76. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. Nike also saw unusually large options trading activity on Thursday. Stock investors purchased 19,067 put options on the stock. This represents an increase of approximately 152% compared to the typical daily volume of 7,576 put options.
Nike (NYSE:NKE) last issued its 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 net margin of 12.34% and a return on equity of 34.18%. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Nike, Inc. will post $2.41 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.
Several brokerages recently 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 research report on Wednesday, June 14th. Vetr lowered Nike from a “buy” rating to a “hold” rating and set a $54.16 target price for the company. 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, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $58.00 target price (down from $63.00) on shares of Nike in a research report on Monday, August 21st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $60.36.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were 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 $17,706,372. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 in the last 90 days. 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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