Clinton Group Inc. raised its position in Nike, Inc. (NYSE:NKE) by 464.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,864 shares of the footwear maker’s stock after buying an additional 25,394 shares during the period. Clinton Group Inc.’s holdings in Nike were worth $1,720,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of NKE. Bank of New York Mellon Corp increased its position in shares of Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock worth $1,621,066,000 after buying an additional 144,846 shares during the period. Jennison Associates LLC increased its position 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 during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Nike by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 5,665,209 shares of the footwear maker’s stock worth $315,722,000 after buying an additional 516,082 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Nike by 20.7% in the first quarter. Canada Pension Plan Investment Board now owns 5,224,981 shares of the footwear maker’s stock worth $291,188,000 after buying an additional 896,319 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt increased its position in shares of Nike by 2.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,839,900 shares of the footwear maker’s stock worth $269,728,000 after buying an additional 129,900 shares during the last quarter. 63.47% of the stock is owned by institutional investors.
Shares of Nike, Inc. (NKE) traded down 0.92% during trading on Thursday, reaching $58.00. 3,232,272 shares of the company’s stock traded hands. The stock has a 50-day moving average of $58.47 and a 200-day moving average of $55.74. The company has a market capitalization of $95.31 billion, a price-to-earnings ratio of 23.11 and a beta of 0.59. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53. Nike also saw unusually large options trading activity on Tuesday. Stock traders purchased 10,309 put options on the stock. This is an increase of approximately 171% compared to the average daily volume of 3,808 put options.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is currently 28.69%.
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A number of brokerages have recently issued reports on NKE. Stifel Nicolaus set a $66.00 price target on Nike and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on Nike and gave the company a “hold” rating in a research report on Saturday, July 22nd. Guggenheim reissued a “buy” rating and issued a $70.00 target price on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 target price on Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC reissued an “overweight” rating and issued a $65.00 target price on shares of Nike in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have issued a buy rating to the company. Nike has an average rating of “Buy” and a consensus price target of $61.04.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the transaction, the insider now directly owns 729,610 shares in the company, valued at approximately $42,047,424.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 in the last three months. Company insiders own 3.90% of the company’s stock.
Nike Company 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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