Norris Perne & French LLP MI Acquires 5,807 Shares of Nike, Inc. (NKE)
Norris Perne & French LLP MI grew its holdings in shares of Nike, Inc. (NYSE:NKE) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,245 shares of the footwear maker’s stock after purchasing an additional 5,807 shares during the period. Nike comprises about 1.6% of Norris Perne & French LLP MI’s portfolio, making the stock its 17th biggest position. Norris Perne & French LLP MI’s holdings in Nike were worth $9,800,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of NKE. V Wealth Management LLC acquired a new position in shares of Nike during the second quarter worth about $100,000. Webster Bank N. A. grew its position in shares of Nike by 75.5% during the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares in the last quarter. Rational Advisors LLC grew its position in shares of Nike by 14.3% during the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares in the last quarter. Kistler Tiffany Companies LLC grew its position in shares of Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Nike by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after buying an additional 201 shares in the last quarter. Institutional investors own 62.64% of the company’s stock.
Shares of Nike, Inc. (NKE) opened at 52.08 on Thursday. The company has a market cap of $85.36 billion, a P/E ratio of 22.17 and a beta of 0.61. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The firm’s 50-day moving average price is $53.41 and its 200 day moving average price is $55.06.
Nike (NYSE:NKE) last released its quarterly 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 business had revenue of $9.07 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. On average, equities analysts predict that Nike, Inc. will post $2.33 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Tuesday, September 5th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. Nike’s dividend payout ratio (DPR) is presently 30.64%.
In other Nike news, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the transaction, the chief financial officer now directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares in the company, valued at $1,371,527. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,117 shares of company stock worth $9,409,321. 3.90% of the stock is owned by corporate insiders.
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NKE has been the subject of a number of analyst reports. Nomura reissued a “buy” rating and set a $60.00 price objective on shares of Nike in a research report on Friday, June 30th. J P Morgan Chase & Co downgraded Nike from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $61.00 to $58.00 in a report on Friday, June 16th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price target for the company in a report on Wednesday. Telsey Advisory Group lowered their price target on Nike from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, June 22nd. Finally, Cowen and Company upped their price target on Nike from $53.00 to $54.00 and gave the company a “market perform” rating in a report on Friday, June 30th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.23.
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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