Boston Family Office LLC Acquires 2,095 Shares of Nike, Inc. (NKE)
Boston Family Office LLC grew its holdings in shares of Nike, Inc. (NYSE:NKE) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,779 shares of the footwear maker’s stock after buying an additional 2,095 shares during the quarter. Nike accounts for approximately 1.2% of Boston Family Office LLC’s holdings, making the stock its 22nd biggest holding. Boston Family Office LLC’s holdings in Nike were worth $10,430,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. V Wealth Management LLC purchased a new stake in shares of Nike during the 2nd quarter valued at about $100,000. Asset Planning Services Ltd. raised its position in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares in the last quarter. Rational Advisors LLC raised its position in shares of Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in shares of Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after buying an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 62.55% of the company’s stock.
In other Nike news, insider Eric D. Sprunk sold 112,323 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the transaction, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,045 shares of company stock valued at $7,778,338. 3.90% of the stock is owned by insiders.
Several analysts have recently issued reports on NKE shares. Jefferies Group LLC cut shares of Nike to a “buy” rating in a research report on Tuesday, August 29th. Vetr cut shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price on the stock. in a research report on Monday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of Nike in a research report on Friday, June 30th. Morgan Stanley upgraded shares of Nike from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $56.00 to $68.00 in a research report on Wednesday, July 19th. Finally, Telsey Advisory Group decreased their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Nike has a consensus rating of “Hold” and a consensus price target of $59.14.
Nike, Inc. (NYSE NKE) opened at 52.30 on Thursday. The stock has a market cap of $85.72 billion, a PE ratio of 22.26 and a beta of 0.61. The company’s 50 day moving average is $52.55 and its 200 day moving average is $54.72. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, equities research analysts expect that Nike, Inc. will post $2.32 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. Nike’s payout ratio is currently 30.64%.
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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