Nike, Inc. (NKE) Shares Bought by Advisory Services Network LLC
Advisory Services Network LLC grew its position in Nike, Inc. (NYSE:NKE) by 4.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,151 shares of the footwear maker’s stock after acquiring an additional 561 shares during the quarter. Advisory Services Network LLC’s holdings in Nike were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Planning Services Ltd. grew its stake in 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 buying an additional 7 shares during the last quarter. Stearns Financial Services Group grew its stake in Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after buying an additional 17 shares during the last quarter. Accredited Investors Inc. grew its stake in Nike by 0.5% during the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the last quarter. Smith Shellnut Wilson LLC ADV boosted its position in Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after acquiring an additional 41 shares during the period. Finally, Buckingham Asset Management LLC boosted its position in Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after acquiring an additional 45 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.
A number of research analysts have issued reports on NKE shares. Morgan Stanley reiterated a “buy” rating and set a $64.00 price target (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target for the company in a research report on Wednesday, September 6th. Telsey Advisory Group reduced their price target on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Wells Fargo & Company reiterated a “market perform” rating and set a $55.00 price target (down previously from $56.00) on shares of Nike in a research report on Tuesday, September 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Nike in a research report on Thursday, August 24th. Three research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.01.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the completion of the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the sale, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Shares of Nike, Inc. (NKE) traded down $0.70 during trading on Thursday, hitting $59.72. The stock had a trading volume of 7,862,100 shares, compared to its average volume of 9,579,083. Nike, Inc. has a twelve month low of $50.35 and a twelve month high of $61.21. The firm has a market capitalization of $98,576.25, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the business posted $0.73 earnings per share. Nike’s revenue was up .1% compared to the same quarter last year. equities research analysts expect 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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. 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 currently 34.04%.
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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