Guinness Asset Management Ltd boosted its holdings in shares of Nike, Inc. (NYSE:NKE) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,763 shares of the footwear maker’s stock after buying an additional 12,650 shares during the quarter. Guinness Asset Management Ltd’s holdings in Nike were worth $3,703,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Scotland Group PLC increased its position in Nike by 6.2% during the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after buying an additional 12,201 shares during the last quarter. Adviser Investments LLC acquired a new position in Nike during the first quarter worth approximately $2,645,000. North Star Asset Management Inc. increased its position in Nike by 7.8% during the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after buying an additional 4,129 shares during the last quarter. Summit Global Investments acquired a new position in Nike during the first quarter worth approximately $508,000. Finally, WINTON GROUP Ltd increased its position in Nike by 2,434.9% during the first quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after buying an additional 288,216 shares during the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. Piper Jaffray Companies set a $50.00 price target on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $54.16 target price on the stock. in a research report on Monday, June 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Nike in a research report on Friday, June 30th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $58.00 target price (down previously from $63.00) on shares of Nike in a research report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have issued a buy rating to the company. Nike has an average rating of “Buy” and a consensus price target of $60.48.
In other news, insider Eric D. Sprunk sold 50,000 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares of the company’s stock, valued at $17,706,372. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 28,072 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the transaction, the chief accounting officer now directly owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,360 shares of company stock valued at $28,485,174. Insiders own 3.90% of the company’s stock.
Shares of Nike, Inc. (NYSE NKE) traded down 0.1381% during mid-day trading on Monday, reaching $53.7956. The company’s stock had a trading volume of 3,349,969 shares. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The firm has a market cap of $88.40 billion, a price-to-earnings ratio of 21.4325 and a beta of 0.61. The company’s 50-day moving average is $55.88 and its 200 day moving average is $55.47.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that Nike, Inc. will post $2.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is 28.69%.
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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