Abner Herrman & Brock LLC Sells 16 Shares of Nike, Inc. (NKE)
Abner Herrman & Brock LLC reduced its holdings in Nike, Inc. (NYSE:NKE) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,092 shares of the footwear maker’s stock after selling 16 shares during the quarter. Abner Herrman & Brock LLC’s holdings in Nike were worth $241,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in NKE. Accredited Investors Inc. lifted its holdings 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 purchasing an additional 19 shares during the period. Montecito Bank & Trust grew its stake in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after purchasing an additional 24 shares during the last quarter. Smith Shellnut Wilson LLC ADV grew its stake in shares of Nike by 0.3% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after purchasing an additional 41 shares during the last quarter. Intrust Bank NA grew its stake in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after purchasing an additional 46 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Nike by 0.5% in 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 purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 62.64% of the company’s stock.
Shares of Nike, Inc. (NYSE NKE) traded up 0.183% on Monday, reaching $51.945. The company’s stock had a trading volume of 3,961,848 shares. The company has a market capitalization of $85.14 billion, a price-to-earnings ratio of 22.114 and a beta of 0.61. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company’s 50-day moving average is $55.57 and its 200 day moving average is $55.39.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm earned $0.73 EPS. Equities analysts anticipate that Nike, Inc. will post $2.34 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.39%. Nike’s dividend payout ratio (DPR) is presently 30.64%.
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NKE has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed a “buy” rating and issued a $64.00 price objective (down from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Telsey Advisory Group decreased their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price for the company in a research report on Wednesday, September 6th. Cowen and Company set a $54.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Friday, August 4th. Finally, Wells Fargo & Company restated a “market perform” rating and set a $55.00 price target (down previously from $56.00) on shares of Nike in a report on Tuesday, September 19th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Nike currently has an average rating of “Hold” and a consensus target price of $59.25.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the transaction, the chief financial officer now owns 34,976 shares in the company, valued at $2,077,574.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 362,117 shares of company stock valued at $20,935,321. Corporate insiders own 3.90% of the company’s stock.
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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