Private Wealth Partners LLC Has $2.33 Million Stake in Nike, Inc. (NKE)
Private Wealth Partners LLC boosted its position in Nike, Inc. (NYSE:NKE) by 769.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,460 shares of the footwear maker’s stock after buying an additional 34,920 shares during the period. Private Wealth Partners LLC’s holdings in Nike were worth $2,328,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. V Wealth Management LLC purchased a new position in shares of Nike during the second quarter worth approximately $100,000. Webster Bank N. A. increased 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 worth $117,000 after buying an additional 900 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Nike during the first quarter worth approximately $117,000. Rational Advisors LLC increased 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 worth $143,000 after buying an additional 321 shares during the last quarter. Finally, Cribstone Capital Management LLC increased its position in shares of Nike by 4.3% in the second quarter. Cribstone Capital Management LLC now owns 2,799 shares of the footwear maker’s stock worth $166,000 after buying an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 62.71% of the company’s stock.
Nike, Inc. (NYSE NKE) opened at 53.36 on Friday. The stock has a market cap of $87.68 billion, a P/E ratio of 21.26 and a beta of 0.59. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The company’s 50 day moving average is $57.31 and its 200 day moving average is $55.74. Nike also was the target of unusually large options trading activity on Thursday. Stock traders acquired 19,067 put options on the stock. This is an increase of 152% compared to the average volume of 7,576 put options.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. Equities analysts predict that Nike, Inc. will post $2.41 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is currently 28.69%.
A number of equities research analysts recently weighed in on NKE shares. UBS AG reissued a “buy” rating and issued a $62.00 price target (down from $63.00) on shares of Nike in a research report on Tuesday, June 27th. FBR & Co set a $53.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Canaccord Genuity set a $51.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, 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. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $60.36.
In related news, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Hilary K. Krane sold 28,072 shares of the business’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 transaction, the chief accounting officer now directly owns 177,723 shares in the company, valued at $10,325,706.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently owned by 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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