Nike Inc (NKE) Holdings Raised by Brown Advisory Inc.
Brown Advisory Inc. boosted its position in shares of Nike Inc (NYSE:NKE) by 32.0% during the second quarter, HoldingsChannel.com reports. The fund owned 316,475 shares of the footwear maker’s stock after acquiring an additional 76,798 shares during the quarter. Brown Advisory Inc.’s holdings in Nike were worth $25,217,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Asset Management Inc grew its holdings in Nike by 1.0% during the 2nd quarter. World Asset Management Inc now owns 91,776 shares of the footwear maker’s stock valued at $7,313,000 after buying an additional 887 shares in the last quarter. Xact Kapitalforvaltning AB grew its holdings in Nike by 2.7% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 251,524 shares of the footwear maker’s stock valued at $20,041,000 after buying an additional 6,498 shares in the last quarter. DeDora Capital Inc. purchased a new stake in Nike during the 2nd quarter valued at approximately $235,000. Montag A & Associates Inc. grew its holdings in Nike by 27.1% during the 2nd quarter. Montag A & Associates Inc. now owns 45,987 shares of the footwear maker’s stock valued at $3,664,000 after buying an additional 9,803 shares in the last quarter. Finally, Welch & Forbes LLC grew its holdings in Nike by 6.8% during the 2nd quarter. Welch & Forbes LLC now owns 12,322 shares of the footwear maker’s stock valued at $982,000 after buying an additional 785 shares in the last quarter. Institutional investors own 64.02% of the company’s stock.
NKE stock opened at $81.40 on Friday. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $83.68. The company has a quick ratio of 1.63, a current ratio of 2.51 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $132.29 billion, a P/E ratio of 34.03, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, August 31st. Nike’s payout ratio is 33.06%.
Nike declared that its board has approved a stock repurchase program on Thursday, June 28th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the footwear maker to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
NKE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Nike in a report on Friday, May 18th. Morgan Stanley initiated coverage on shares of Nike in a report on Wednesday, August 1st. They set an “overweight” rating and a $88.00 price objective for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Nike in a report on Thursday, June 14th. Piper Jaffray Companies raised shares of Nike from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $93.00 in a report on Monday, August 20th. Finally, Susquehanna Bancshares raised shares of Nike from a “neutral” rating to a “positive” rating and increased their price objective for the company from $78.00 to $93.00 in a report on Monday, August 20th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-six have issued a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $79.19.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Monday, June 4th. The shares were sold at an average price of $73.03, for a total transaction of $9,859,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $119,603,860.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 45,000 shares of Nike stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $74.01, for a total transaction of $3,330,450.00. Following the transaction, the insider now directly owns 186,959 shares of the company’s stock, valued at $13,836,835.59. The disclosure for this sale can be found here. Insiders have sold 512,778 shares of company stock valued at $39,376,326 over the last ninety days. 3.90% of the stock is owned by insiders.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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