Kavar Capital Partners LLC reduced its stake in shares of Nike Inc (NYSE:NKE) by 2.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 47,753 shares of the footwear maker’s stock after selling 1,220 shares during the period. Nike makes up about 1.6% of Kavar Capital Partners LLC’s holdings, making the stock its 16th largest position. Kavar Capital Partners LLC’s holdings in Nike were worth $4,009,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Joseph P. Lucia & Associates LLC purchased a new position in Nike in the 1st quarter valued at about $25,000. Shamrock Asset Management LLC acquired a new position in shares of Nike during the 1st quarter valued at about $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Nike during the 1st quarter valued at about $25,000. Thor Advisors LLC acquired a new position in shares of Nike during the 1st quarter valued at about $26,000. Finally, Mackey Komara & Dankovich LLC acquired a new position in shares of Nike during the 1st quarter valued at about $30,000. Institutional investors own 66.15% of the company’s stock.
A number of research firms have recently commented on NKE. Stifel Nicolaus set a $96.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Wednesday, August 7th. Credit Suisse Group reaffirmed a “buy” rating and set a $97.00 price objective on shares of Nike in a research note on Friday, June 28th. Piper Jaffray Companies set a $97.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Friday, June 28th. Morgan Stanley upped their price objective on shares of Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Goldman Sachs Group set a $83.00 price objective on shares of Nike and gave the company a “neutral” rating in a research note on Monday, July 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the stock. Nike presently has a consensus rating of “Buy” and a consensus price target of $90.02.
Shares of Nike stock traded down $1.03 on Thursday, hitting $80.00. 236,852 shares of the company’s stock traded hands, compared to its average volume of 5,893,333. The firm has a market capitalization of $127.94 billion, a PE ratio of 32.12, a P/E/G ratio of 2.16 and a beta of 0.78. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $85.35. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The business had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 earnings per share. As a group, equities research analysts predict that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio (DPR) is currently 35.34%.
In other news, CAO Hilary K. Krane sold 17,903 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $88.70, for a total transaction of $1,587,996.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the transaction, the director now owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,637 shares of company stock valued at $16,767,237. Company insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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