Nike, Inc. (NKE) Shares Bought by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company boosted its holdings in Nike, Inc. (NYSE:NKE) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,848,631 shares of the footwear maker’s stock after purchasing an additional 361,169 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.17% of Nike worth $168,069,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Simmons Bank increased its holdings in Nike by 1.9% in the second quarter. Simmons Bank now owns 19,939 shares of the footwear maker’s stock worth $1,177,000 after purchasing an additional 376 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Nike by 339.7% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 183,355 shares of the footwear maker’s stock worth $10,806,000 after purchasing an additional 141,655 shares in the last quarter. Sather Financial Group Inc bought a new stake in Nike in the second quarter worth approximately $9,275,000. NBW Capital LLC grew its stake in Nike by 0.8% in the second quarter. NBW Capital LLC now owns 60,079 shares of the footwear maker’s stock valued at $3,545,000 after acquiring an additional 491 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Nike in the second quarter valued at approximately $16,951,000. Institutional investors and hedge funds own 63.05% of the company’s stock.
Shares of Nike, Inc. (NYSE:NKE) traded down $0.34 during trading hours on Friday, hitting $59.88. The company had a trading volume of 10,113,565 shares, compared to its average volume of 8,428,617. The stock has a market capitalization of $98,584.41, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike, Inc. has a one year low of $50.11 and a one year high of $61.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.34%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is currently 30.64%.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
A number of equities research analysts have commented on NKE shares. Jefferies Group cut Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price objective for the company. in a research note on Monday, September 4th. Goldman Sachs Group cut Nike from a “buy” rating to a “neutral” rating and raised their price objective for the company from $52.30 to $54.00 in a research note on Thursday, October 19th. Telsey Advisory Group reduced their price objective on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nineteen have assigned a buy rating to the stock. Nike presently has a consensus rating of “Hold” and a consensus target price of $59.01.
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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