Hendershot Investments Inc. increased its position in shares of Nike, Inc. (NYSE:NKE) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,192 shares of the footwear maker’s stock after buying an additional 5,090 shares during the period. Nike comprises approximately 3.2% of Hendershot Investments Inc.’s portfolio, making the stock its 9th largest position. Hendershot Investments Inc.’s holdings in Nike were worth $7,150,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. Norges Bank bought a new stake in shares of Nike during the fourth quarter worth about $463,411,000. OppenheimerFunds Inc. raised its stake in shares of Nike by 7,020.1% in the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Nike during the fourth quarter worth about $165,446,000. Finally, Wellington Management Group LLP raised its stake in shares of Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. 64.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike, Inc. (NYSE NKE) traded down 0.4431% on Friday, reaching $59.8735. The company’s stock had a trading volume of 2,677,281 shares. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.34. The company has a 50 day moving average of $56.38 and a 200 day moving average of $55.29. The stock has a market capitalization of $98.38 billion, a P/E ratio of 23.8540 and a beta of 0.59.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. Nike’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Equities research analysts expect that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Monday, June 5th were given a $0.18 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.20%. Nike’s dividend payout ratio is currently 28.69%.
NKE has been the subject of a number of recent analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $62.00 target price on shares of Nike in a research note on Tuesday, April 18th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Nike in a research note on Saturday, April 22nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Nike in a research note on Friday, May 5th. Berenberg Bank assumed coverage on shares of Nike in a research note on Tuesday, May 16th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $61.04.
In other news, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the completion of the sale, the insider now owns 300,108 shares in the company, valued at $17,706,372. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 over the last 90 days. Company insiders own 3.90% of the company’s stock.
About Nike
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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