Nike, Inc. (NKE) Shares Bought by Eads & Heald Investment Counsel
Eads & Heald Investment Counsel boosted its stake in Nike, Inc. (NYSE:NKE) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,614 shares of the footwear maker’s stock after buying an additional 2,320 shares during the period. Nike accounts for approximately 1.2% of Eads & Heald Investment Counsel’s portfolio, making the stock its 26th largest position. Eads & Heald Investment Counsel’s holdings in Nike were worth $1,924,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Korea Investment CORP raised its holdings in Nike by 14.9% in the second quarter. Korea Investment CORP now owns 607,867 shares of the footwear maker’s stock worth $35,864,000 after purchasing an additional 78,639 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in Nike by 7.2% during the second quarter. Candriam Luxembourg S.C.A. now owns 252,409 shares of the footwear maker’s stock valued at $14,893,000 after buying an additional 16,850 shares during the period. Stratos Wealth Partners LTD. lifted its position in Nike by 0.9% during the second quarter. Stratos Wealth Partners LTD. now owns 56,655 shares of the footwear maker’s stock valued at $3,343,000 after buying an additional 530 shares during the period. United Bank lifted its position in Nike by 4.4% during the second quarter. United Bank now owns 28,744 shares of the footwear maker’s stock valued at $1,696,000 after buying an additional 1,214 shares during the period. Finally, YHB Investment Advisors Inc. lifted its position in Nike by 8.8% during the second quarter. YHB Investment Advisors Inc. now owns 109,764 shares of the footwear maker’s stock valued at $6,476,000 after buying an additional 8,875 shares during the period. Institutional investors and hedge funds own 62.64% of the company’s stock.
A number of analysts have recently weighed in on NKE shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nike in a research report on Saturday. Credit Suisse Group reissued an “outperform” rating and set a $63.00 price target on shares of Nike in a research report on Saturday. Buckingham Research reissued a “buy” rating and set a $64.00 price target on shares of Nike in a research report on Thursday, September 28th. Instinet reissued a “buy” rating and set a $62.00 price target (up from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Nike in a research note on Wednesday, September 27th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $59.25.
Nike, Inc. (NYSE NKE) opened at 51.87 on Tuesday. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The stock’s 50 day moving average price is $53.84 and its 200 day moving average price is $55.13. The company has a market cap of $85.02 billion, a P/E ratio of 22.08 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Nike, Inc. will post $2.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 31st. Nike’s dividend payout ratio (DPR) is currently 30.64%.
In other news, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction on 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 transaction, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of Nike stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total value of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. Insiders have sold 362,117 shares of company stock worth $20,935,321 in the last three months. 3.90% of the stock is currently owned by corporate insiders.
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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