Catawba Capital Management VA Sells 1,745 Shares of Nike, Inc. (NKE)
Catawba Capital Management VA decreased its holdings in shares of Nike, Inc. (NYSE:NKE) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,445 shares of the footwear maker’s stock after selling 1,745 shares during the period. Catawba Capital Management VA’s holdings in Nike were worth $3,625,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Accredited Investors Inc. boosted its stake in shares of Nike by 0.5% during the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust boosted its stake in shares of Nike by 0.3% during the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Intrust Bank NA boosted its stake in shares of Nike by 0.9% during the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC boosted its stake in shares of Nike by 0.5% during the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Nike by 0.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 62.72% of the company’s stock.
In other Nike news, CFO Andrew Campion sold 96,243 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 492,360 shares of company stock valued at $28,485,174. Insiders own 3.90% of the company’s stock.
NKE has been the subject of a number of recent analyst reports. Jefferies Group LLC downgraded shares of Nike to a “buy” rating in a research report on Tuesday, August 29th. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price objective for the company. in a research report on Monday, September 4th. Stifel Nicolaus restated a “buy” rating and issued a $66.00 price objective on shares of Nike in a research report on Friday, June 30th. Morgan Stanley upgraded shares of Nike from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $56.00 to $68.00 in a research report on Wednesday, July 19th. Finally, Deutsche Bank AG set a $63.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, June 20th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and a consensus target price of $60.48.
Nike, Inc. (NYSE NKE) traded up 0.26% during midday trading on Friday, hitting $53.87. 10,046,827 shares of the stock traded hands. The company has a 50-day moving average of $55.88 and a 200-day moving average of $55.47. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53. The stock has a market cap of $88.52 billion, a PE ratio of 21.46 and a beta of 0.61.
Nike (NYSE:NKE) last issued 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 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 the consensus estimate of $8.63 billion. During the same period in the prior year, the firm earned $0.49 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Nike, Inc. will post $2.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 yield of 1.34%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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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.
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