Mainstay Capital Management LLC ADV increased its holdings in shares of Nike Inc (NYSE:NKE) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,676 shares of the footwear maker’s stock after purchasing an additional 1,005 shares during the period. Mainstay Capital Management LLC ADV’s holdings in Nike were worth $1,565,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HCR Wealth Advisors boosted its holdings in Nike by 1.8% in the second quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock worth $1,174,000 after acquiring an additional 250 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Nike by 25.7% in the second quarter. Bank of Nova Scotia now owns 375,971 shares of the footwear maker’s stock worth $30,799,000 after acquiring an additional 76,852 shares in the last quarter. Chicago Capital LLC boosted its holdings in Nike by 33.8% in the second quarter. Chicago Capital LLC now owns 14,988 shares of the footwear maker’s stock worth $1,258,000 after acquiring an additional 3,789 shares in the last quarter. Whitener Capital Management Inc. boosted its holdings in Nike by 9.3% in the second quarter. Whitener Capital Management Inc. now owns 34,586 shares of the footwear maker’s stock worth $2,903,000 after acquiring an additional 2,950 shares in the last quarter. Finally, BB&T Corp boosted its holdings in Nike by 2.7% in the second quarter. BB&T Corp now owns 42,415 shares of the footwear maker’s stock worth $3,561,000 after acquiring an additional 1,124 shares in the last quarter. 65.10% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on NKE. Bank of America upgraded Nike from an “underperform” rating to a “neutral” rating and set a $98.00 target price on the stock in a report on Monday. Piper Jaffray Companies raised their target price on Nike from $97.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Goldman Sachs Group set a $95.00 target price on Nike and gave the company a “neutral” rating in a report on Wednesday, September 25th. Morgan Stanley raised their target price on Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Oppenheimer raised their target price on Nike from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have assigned a buy rating to the company. Nike has a consensus rating of “Buy” and a consensus target price of $96.77.
In related news, Director John C. Lechleiter sold 5,406 shares of Nike stock in a transaction on Friday, July 26th. The stock was sold at an average price of $87.13, for a total transaction of $471,024.78. Following the completion of the sale, the director now owns 68,457 shares of the company’s stock, valued at $5,964,658.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elliott Hill sold 2,770 shares of Nike stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 505,579 shares of company stock valued at $45,961,980. 3.80% of the stock is owned by company insiders.
NYSE:NKE traded up $0.29 during trading hours on Thursday, reaching $95.17. The stock had a trading volume of 206,485 shares, compared to its average volume of 7,284,383. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.29 and a current ratio of 2.01. The stock has a 50 day simple moving average of $89.38 and a 200 day simple moving average of $85.66. Nike Inc has a 12-month low of $66.53 and a 12-month high of $95.25. The stock has a market cap of $148.11 billion, a P/E ratio of 38.24, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15. The business had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. On average, equities analysts expect that Nike Inc will post 2.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, August 30th. Nike’s dividend payout ratio (DPR) is presently 35.34%.
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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