Twin Capital Management Inc. lowered its stake in Nike Inc (NYSE:NKE) by 28.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,527 shares of the footwear maker’s stock after selling 37,233 shares during the quarter. Twin Capital Management Inc.’s holdings in Nike were worth $7,852,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Executive Wealth Management LLC lifted its position in shares of Nike by 12.9% in the second quarter. Executive Wealth Management LLC now owns 16,245 shares of the footwear maker’s stock worth $1,364,000 after purchasing an additional 1,851 shares in the last quarter. Lyell Wealth Management LP increased its holdings in Nike by 4.6% during the second quarter. Lyell Wealth Management LP now owns 61,293 shares of the footwear maker’s stock worth $5,159,000 after buying an additional 2,718 shares during the last quarter. Jacobs & Co. CA increased its holdings in Nike by 0.4% during the second quarter. Jacobs & Co. CA now owns 138,732 shares of the footwear maker’s stock worth $11,646,000 after buying an additional 501 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Nike by 151.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,087,961 shares of the footwear maker’s stock worth $91,253,000 after buying an additional 655,013 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in Nike by 56.5% during the second quarter. Sunbelt Securities Inc. now owns 10,266 shares of the footwear maker’s stock worth $862,000 after buying an additional 3,708 shares during the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:NKE traded down $1.13 on Thursday, hitting $79.90. The company had a trading volume of 248,709 shares, compared to its average volume of 5,893,333. Nike Inc has a 1-year low of $66.53 and a 1-year high of $90.00. The company has a market cap of $127.94 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 2.16 and a beta of 0.78. The stock’s 50 day moving average is $85.35. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38.
Nike (NYSE:NKE) last released its quarterly earnings data 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). Nike had a net margin of 10.30% and a return on equity of 45.12%. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Nike’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts predict that Nike Inc will post 2.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.10%. Nike’s dividend payout ratio (DPR) is presently 35.34%.
In related news, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction dated 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 directly owns 38,813 shares in the company, valued at $3,292,894.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total transaction of $9,378,600.00. The disclosure for this sale can be found here. Insiders sold 194,637 shares of company stock worth $16,767,237 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on NKE shares. Deutsche Bank set a $100.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, July 10th. Canaccord Genuity restated a “buy” rating and set a $96.00 target price on shares of Nike in a report on Wednesday, June 19th. Macquarie set a $89.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Friday, June 28th. Goldman Sachs Group set a $83.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One equities 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 company. The company currently has an average rating of “Buy” and a consensus target price of $90.02.
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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