National Asset Management Inc. Sells 353 Shares of Nike, Inc. (NKE)
National Asset Management Inc. lowered its holdings in Nike, Inc. (NYSE:NKE) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,314 shares of the footwear maker’s stock after selling 353 shares during the period. National Asset Management Inc.’s holdings in Nike were worth $1,134,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Personal Capital Advisors Corp grew its stake in shares of Nike by 15.5% in the 1st quarter. Personal Capital Advisors Corp now owns 83,943 shares of the footwear maker’s stock worth $4,758,000 after purchasing an additional 11,288 shares during the last quarter. Adviser Investments LLC acquired a new position in shares of Nike in the 1st quarter worth approximately $2,645,000. Citizens & Northern Corp grew its stake in shares of Nike by 1.3% in the 1st quarter. Citizens & Northern Corp now owns 41,689 shares of the footwear maker’s stock worth $2,323,000 after purchasing an additional 535 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Nike by 2,434.9% in the 1st quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after purchasing an additional 288,216 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Nike by 22.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 7,037 shares of the footwear maker’s stock worth $392,000 after purchasing an additional 1,280 shares during the last quarter. 62.72% of the stock is currently owned by institutional investors.
In other Nike news, CAO Hilary K. Krane sold 28,072 shares of the stock in a transaction on Friday, July 14th. The stock was 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 owns 177,723 shares in the company, valued at approximately $10,325,706.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction 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 owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock worth $28,485,174 in the last quarter. Company insiders own 3.90% of the company’s stock.
Nike, Inc. (NKE) traded down 0.36% during midday trading on Friday, reaching $52.20. 8,563,283 shares of the company’s stock were exchanged. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The company has a 50 day moving average price of $56.66 and a 200 day moving average price of $55.62. The company has a market cap of $85.77 billion, a P/E ratio of 20.80 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter in the prior year, the business earned $0.49 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that Nike, Inc. will post $2.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is 28.69%.
NKE has been the topic of several recent research reports. Jefferies Group LLC cut shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Berenberg Bank initiated coverage on shares of Nike in a research note on Tuesday, May 16th. They issued a “buy” rating and a $70.00 price objective on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Friday, June 30th. Morgan Stanley raised shares of Nike from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Finally, Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price objective on the stock. in a research note on Monday, August 28th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $60.35.
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.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike, Inc. (NYSE:NKE).
Receive News & Stock Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related stocks with our FREE daily email newsletter.