Trilogy Global Advisors LP Sells 14,077 Shares of Nike, Inc. (NKE)
Trilogy Global Advisors LP reduced its stake in shares of Nike, Inc. (NYSE:NKE) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,473 shares of the footwear maker’s stock after selling 14,077 shares during the period. Trilogy Global Advisors LP’s holdings in Nike were worth $10,117,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of NKE. State Street Corp lifted its holdings in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after acquiring an additional 835,003 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after acquiring an additional 2,375,447 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Nike by 25.5% in the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after acquiring an additional 3,033,280 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after acquiring an additional 1,130,409 shares during the last quarter. Finally, Polen Capital Management LLC lifted its holdings in Nike by 7.1% in the second quarter. Polen Capital Management LLC now owns 12,158,635 shares of the footwear maker’s stock valued at $717,359,000 after acquiring an additional 807,786 shares during the last quarter. Institutional investors and hedge funds own 62.24% of the company’s stock.
A number of research analysts recently commented on NKE shares. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $59.74 price objective on the stock in a report on Monday, August 21st. Jefferies Group LLC set a $75.00 price objective on Nike and gave the company a “buy” rating in a report on Tuesday, August 15th. Guggenheim reiterated a “buy” rating and issued a $70.00 price objective on shares of Nike in a report on Monday, July 24th. Piper Jaffray Companies reiterated a “buy” rating on shares of Nike in a report on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $66.00 price objective on shares of Nike in a report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $58.92.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
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Shares of Nike, Inc. (NYSE NKE) opened at $59.19 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. The company has a market cap of $96,569.48, a PE ratio of 25.19, a P/E/G ratio of 2.77 and a beta of 0.60. Nike, Inc. has a 12-month low of $50.06 and a 12-month high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.73 earnings per share. equities analysts forecast that Nike, Inc. will post 2.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a $0.20 dividend. The ex-dividend date is Friday, December 1st. This is a boost from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.35%. Nike’s dividend payout ratio (DPR) is 30.64%.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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