Eastern Bank Has $11.55 Million Stake in Nike, Inc. (NKE)
Eastern Bank lifted its position in Nike, Inc. (NYSE:NKE) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,694 shares of the footwear maker’s stock after buying an additional 2,342 shares during the period. Eastern Bank’s holdings in Nike were worth $11,545,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Jennison Associates LLC lifted its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of Nike in the first quarter worth approximately $122,886,000. Finally, Pioneer Investment Management Inc. lifted its stake in shares of Nike by 108.4% in the first quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock worth $175,956,000 after buying an additional 1,642,177 shares in the last quarter. Hedge funds and other institutional investors own 62.72% of the company’s stock.
In related news, insider Trevor A. Edwards sold 200,000 shares of the company’s 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 owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now directly owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 in the last three months. 3.90% of the stock is currently owned by insiders.
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Shares of Nike, Inc. (NYSE:NKE) opened at 52.20 on Friday. The company has a market cap of $85.77 billion, a price-to-earnings ratio of 20.80 and a beta of 0.61. The stock has a 50 day moving average of $56.66 and a 200 day moving average of $55.62. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Nike’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts predict that Nike, Inc. will post $2.41 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.
A number of research analysts recently weighed in on the stock. Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub upgraded shares of Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Vetr downgraded shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective on the stock. in a research report on Monday, June 5th. Robert W. Baird restated an “outperform” rating and set a $62.00 price objective on shares of Nike in a research report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $58.00 price objective (down previously 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 issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $60.35.
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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