Chartwell Investment Partners LLC Takes Position in Nike Inc (NKE)

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Chartwell Investment Partners LLC bought a new position in shares of Nike Inc (NYSE:NKE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 30,732 shares of the footwear maker’s stock, valued at approximately $2,449,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Nike during the 2nd quarter worth approximately $104,000. Bruderman Asset Management LLC acquired a new stake in Nike during the 1st quarter worth approximately $129,000. Princeton Capital Management LLC acquired a new stake in Nike during the 1st quarter worth approximately $130,000. Archford Capital Strategies LLC acquired a new stake in Nike during the 1st quarter worth approximately $137,000. Finally, Tyvor Capital LLC acquired a new stake in Nike during the 2nd quarter worth approximately $160,000. Institutional investors own 64.02% of the company’s stock.

NKE has been the subject of several research reports. Morgan Stanley initiated coverage on Nike in a report on Wednesday, August 1st. They set an “overweight” rating and a $88.00 price target for the company. Jefferies Financial Group reissued a “neutral” rating and set a $68.00 price target on shares of Nike in a report on Wednesday, June 13th. Credit Suisse Group reissued a “buy” rating and set a $78.00 price target on shares of Nike in a report on Thursday, June 14th. B. Riley lifted their price target on Nike from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, June 29th. Finally, Telsey Advisory Group lifted their price target on Nike from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, July 4th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $79.19.

In other news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction on Monday, July 30th. The stock was 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 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 link. Also, insider Elliott Hill sold 5,741 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $78.17, for a total value of $448,773.97. The disclosure for this sale can be found here. Insiders have sold a total of 512,778 shares of company stock valued at $39,376,326 in the last three months. 3.90% of the stock is owned by insiders.

Nike stock opened at $82.79 on Thursday. 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 52 week low of $50.35 and a 52 week high of $83.68. The firm has a market cap of $132.29 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The company had revenue of $9.79 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. Nike’s revenue was up 12.8% on a year-over-year basis. research analysts forecast that Nike Inc will post 2.62 EPS for the current year.

The firm also recently declared 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. The ex-dividend date is Friday, August 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.97%. Nike’s dividend payout ratio (DPR) is currently 33.06%.

Nike announced that its Board of Directors has authorized a share repurchase program on Thursday, June 28th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the footwear maker to reacquire up to 12.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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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