Covington Capital Management grew its stake in shares of Nike, Inc. (NYSE:NKE) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,808 shares of the footwear maker’s stock after purchasing an additional 5,251 shares during the quarter. Nike comprises about 2.0% of Covington Capital Management’s portfolio, making the stock its 7th biggest holding. Covington Capital Management’s holdings in Nike were worth $24,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of NKE. Asset Planning Services Ltd. increased its position in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares during the last quarter. SRS Capital Advisors Inc. increased its position in shares of Nike by 31.1% during the 1st quarter. SRS Capital Advisors Inc. now owns 3,085 shares of the footwear maker’s stock worth $171,000 after purchasing an additional 731 shares during the last quarter. Finally, Oakworth Capital Inc. increased its position in shares of Nike by 14.3% during the 2nd quarter. Oakworth Capital Inc. now owns 2,994 shares of the footwear maker’s stock worth $177,000 after purchasing an additional 374 shares during the last quarter. 62.78% of the stock is currently owned by hedge funds and other institutional investors.

NKE has been the topic of several recent analyst reports. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price target on the stock in a research report on Wednesday, October 4th. Jefferies Group downgraded Nike from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $60.00 in a research note on Monday, August 21st. Canaccord Genuity reiterated a “hold” rating and set a $50.00 target price (down from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Susquehanna Bancshares reiterated a “hold” rating and set a $47.00 target price (down from $54.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Instinet reiterated a “buy” rating and set a $62.00 target price (up from $59.00) on shares of Nike in a research note on Wednesday, September 27th. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nineteen have assigned a buy rating to the stock. Nike has a consensus rating of “Hold” and an average target price of $59.01.

Nike, Inc. (NKE) traded up $0.32 on Wednesday, reaching $60.42. The company had a trading volume of 8,862,800 shares, compared to its average volume of 9,586,421. The company has a market cap of $98,054.16, a P/E ratio of 25.57, a PEG ratio of 2.82 and a beta of 0.64. Nike, Inc. has a twelve month low of $50.26 and a twelve month high of $61.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81.

Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 EPS. sell-side analysts predict 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. Stockholders of record on Monday, December 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, December 1st. Nike’s dividend payout ratio is presently 34.04%.

In other news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now 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. Corporate insiders own 3.90% of the company’s stock.

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Nike Profile

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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