SPF Beheer BV Reduces Stake in Nike Inc (NKE)

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SPF Beheer BV decreased its holdings in shares of Nike Inc (NYSE:NKE) by 0.1% during the 2nd quarter, Holdings Channel reports. The firm owned 1,275,213 shares of the footwear maker’s stock after selling 1,328 shares during the period. Nike makes up approximately 4.1% of SPF Beheer BV’s portfolio, making the stock its 2nd largest position. SPF Beheer BV’s holdings in Nike were worth $101,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Nike during the 2nd quarter worth $104,000. Bruderman Asset Management LLC bought a new stake in shares of Nike during the 1st quarter worth $129,000. Princeton Capital Management LLC bought a new stake in shares of Nike during the 1st quarter worth $130,000. Archford Capital Strategies LLC bought a new stake in shares of Nike during the 1st quarter worth $137,000. Finally, Tyvor Capital LLC bought a new stake in shares of Nike during the 2nd quarter worth $160,000. Institutional investors own 64.72% of the company’s stock.

Several research firms recently issued reports on NKE. Morgan Stanley reaffirmed a “buy” rating and set a $88.00 price objective on shares of Nike in a report on Friday, August 10th. JPMorgan Chase & Co. upped their price objective on shares of Nike from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday. TheStreet raised shares of Nike from a “c+” rating to a “b+” rating in a report on Thursday, June 28th. Atlantic Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Nike in a report on Friday, June 29th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $90.00 price objective on shares of Nike in a report on Friday, June 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have given a buy rating to the company. Nike has an average rating of “Hold” and a consensus target price of $77.60.

NYSE:NKE opened at $79.75 on Friday. The stock has a market cap of $129.21 billion, a PE ratio of 32.95, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. Nike Inc has a 52 week low of $50.35 and a 52 week high of $81.88. 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 (NYSE:NKE) last released its quarterly earnings data on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.40 billion. Nike had a net margin of 5.31% and a return on equity of 36.57%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. equities research analysts expect that Nike Inc will post 2.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, August 31st. Nike’s payout ratio is 33.06%.

Nike announced that its Board of Directors has initiated a share 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 buy up to 12.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $76.07, for a total transaction of $760,700.00. Following the completion of the transaction, the executive vice president now directly owns 86,774 shares of the company’s stock, valued at approximately $6,600,898.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 45,000 shares of the firm’s stock in a transaction dated 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 a total of 557,778 shares of company stock valued at $42,616,326 over the last ninety days. 3.90% of the stock is owned by insiders.

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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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