Nike, Inc. (NKE) Shares Bought by Progressive Investment Management Corp
Progressive Investment Management Corp lifted its stake in Nike, Inc. (NYSE:NKE) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,085 shares of the footwear maker’s stock after acquiring an additional 221 shares during the quarter. Nike accounts for about 2.3% of Progressive Investment Management Corp’s investment portfolio, making the stock its 21st largest holding. Progressive Investment Management Corp’s holdings in Nike were worth $2,896,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Royal Bank of Scotland Group PLC grew its stake in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after acquiring an additional 12,201 shares during the period. North Star Asset Management Inc. grew its stake in shares of Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after acquiring an additional 4,129 shares during the period. Hartford Investment Management Co. grew its stake in shares of Nike by 5.5% in the second quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock worth $21,283,000 after acquiring an additional 18,759 shares during the period. WINTON GROUP Ltd grew its stake in shares of Nike by 2,434.9% in the first quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after acquiring an additional 288,216 shares during the period. Finally, Eastern Bank grew its stake in shares of Nike by 1.2% in the second quarter. Eastern Bank now owns 195,694 shares of the footwear maker’s stock worth $11,545,000 after acquiring an additional 2,342 shares during the period. Hedge funds and other institutional investors own 62.55% of the company’s stock.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The stock was 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 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 SEC, which is accessible through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of Nike 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 directly owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,045 shares of company stock valued at $7,778,338. 3.90% of the stock is currently owned by corporate insiders.
Nike, Inc. (NKE) opened at 52.69 on Friday. The stock has a 50 day moving average of $52.55 and a 200-day moving average of $54.71. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market capitalization of $85.96 billion, a PE ratio of 22.43 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. Equities analysts expect that Nike, Inc. will post $2.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, August 31st. Nike’s dividend payout ratio is currently 30.64%.
NKE has been the subject of a number of research analyst reports. Jefferies Group LLC lowered shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price for the company. 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 boosted their target price for the company from $56.00 to $68.00 in a research report on Wednesday, July 19th. Finally, Telsey Advisory Group cut 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. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.04.
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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