Arizona State Retirement System Grows Holdings in Nike, Inc. (NKE)
Arizona State Retirement System raised its position in shares of Nike, Inc. (NYSE:NKE) by 0.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 328,628 shares of the footwear maker’s stock after purchasing an additional 600 shares during the period. Arizona State Retirement System’s holdings in Nike were worth $19,389,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Stearns Financial Services Group grew its stake in shares of Nike by 0.4% in the second quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after purchasing an additional 17 shares during the last quarter. Accredited Investors Inc. grew its stake in shares of Nike by 0.5% in 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 last quarter. 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. Finally, 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. Institutional investors and hedge funds own 62.63% of the company’s stock.
NKE has been the topic of several research reports. Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Robert W. Baird reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Nike in a research report on Friday, June 30th. Citigroup Inc. reaffirmed a “buy” rating and set a $65.00 price objective (down from $67.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $58.00 price objective (down from $63.00) on shares of Nike in a research report on Monday, August 21st. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Nike presently has an average rating of “Hold” and an average price target of $59.14.
Nike, Inc. (NYSE:NKE) opened at 51.52 on Tuesday. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The company’s 50-day moving average is $52.99 and its 200-day moving average is $54.95. The firm has a market capitalization of $84.45 billion, a price-to-earnings ratio of 21.93 and a beta of 0.61.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 EPS. Equities analysts predict that Nike, Inc. will post $2.32 earnings per share for the current year.
The company also recently declared 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. The ex-dividend date was Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.40%. Nike’s dividend payout ratio is currently 30.64%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 162,117 shares of company stock worth $9,409,321 over the last ninety days. 3.90% of the stock is owned by corporate insiders.
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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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