Investec Asset Management LTD boosted its position in Nike Inc (NYSE:NKE) by 35.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 315,128 shares of the footwear maker’s stock after acquiring an additional 83,159 shares during the quarter. Investec Asset Management LTD’s holdings in Nike were worth $25,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Fuller & Thaler Asset Management Inc. purchased a new stake in Nike during the second quarter valued at about $104,000. Bruderman Asset Management LLC purchased a new stake in Nike during the first quarter valued at about $129,000. Princeton Capital Management LLC purchased a new stake in Nike during the first quarter valued at about $130,000. Tyvor Capital LLC purchased a new stake in Nike during the second quarter valued at about $160,000. Finally, Archford Capital Strategies LLC purchased a new stake in Nike during the first quarter valued at about $137,000. 64.02% of the stock is currently owned by institutional investors and hedge funds.

In other Nike news, insider Eric D. Sprunk sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $79.07, for a total transaction of $11,860,500.00. Following the completion of the transaction, the insider now owns 241,959 shares of the company’s stock, valued at $19,131,698.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $119,603,860.08. The disclosure for this sale can be found here. Insiders have sold 512,778 shares of company stock valued at $39,376,326 in the last ninety days. Insiders own 3.90% of the company’s stock.

A number of analysts have recently weighed in on the stock. Macquarie set a $87.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and set a $90.00 target price on shares of Nike in a report on Thursday, August 23rd. Susquehanna Bancshares upgraded shares of Nike from a “neutral” rating to a “positive” rating and increased their target price for the stock from $78.00 to $93.00 in a report on Monday, August 20th. UBS Group upgraded shares of Nike from a “neutral” rating to a “positive” rating in a report on Monday, August 20th. Finally, Piper Jaffray Companies upgraded shares of Nike from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $72.00 to $93.00 in a report on Monday, August 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $79.19.

Shares of NKE opened at $81.40 on Friday. The company has a quick ratio of 1.63, a current ratio of 2.51 and a debt-to-equity ratio of 0.35. Nike Inc has a one year low of $50.35 and a one year high of $83.68. The stock has a market capitalization of $132.17 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.76 and a beta of 0.68.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Nike had a net margin of 5.31% and a return on equity of 36.57%. The business had revenue of $9.79 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same period last year, the business posted $0.60 earnings per share. Nike’s quarterly revenue was up 12.8% compared to the same quarter last year. sell-side analysts predict that Nike Inc will post 2.62 EPS for the current fiscal year.

Nike declared that its Board of Directors has authorized a share buyback plan on Thursday, June 28th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the footwear maker to buy up to 12.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, August 31st. Nike’s dividend payout ratio is 33.06%.

Nike 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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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