Nwam LLC Has $427,000 Holdings in Nike, Inc. (NKE)
Nwam LLC raised its stake in Nike, Inc. (NYSE:NKE) by 6.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,244 shares of the footwear maker’s stock after acquiring an additional 453 shares during the period. Nwam LLC’s holdings in Nike were worth $427,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp raised its holdings in Nike by 1.4% in the 1st quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after acquiring an additional 835,003 shares in the last quarter. Wellington Management Group LLP raised its holdings in Nike by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after acquiring an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Nike by 0.5% in the 1st quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after acquiring an additional 144,846 shares in the last quarter. Jennison Associates LLC raised its holdings in Nike by 124.7% in the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after acquiring an additional 13,953,567 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Nike by 9.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after acquiring an additional 1,130,409 shares in the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on NKE shares. Morgan Stanley reaffirmed a “buy” rating and issued a $64.00 price objective (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Telsey Advisory Group dropped their price objective on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective for the company in a report on Wednesday, September 6th. Cowen and Company set a $54.00 price target on Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Canaccord Genuity set a $51.00 price target on Nike and gave the company a “hold” rating in a research note on Friday, May 26th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $60.48.
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Shares of Nike, Inc. (NYSE:NKE) opened at 53.50 on Tuesday. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The company has a market capitalization of $87.91 billion, a price-to-earnings ratio of 21.31 and a beta of 0.61. The firm’s 50-day moving average price is $55.74 and its 200-day moving average price is $55.41.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same period last year, the business earned $0.49 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis. Analysts anticipate that Nike, Inc. will post $2.41 earnings per share for the current 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. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. Nike’s payout ratio is currently 28.69%.
In related news, 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 value of $1,630,983.20. Following the completion of the transaction, the chief accounting officer now directly owns 177,723 shares in the company, valued at approximately $10,325,706.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the transaction, the insider now owns 300,108 shares of the company’s stock, valued at $17,706,372. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is owned by company insiders.
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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