Koshinski Asset Management Inc. Invests $629,000 in Nike, Inc. (NKE) Stock

Koshinski Asset Management Inc. bought a new position in shares of Nike, Inc. (NYSE:NKE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,660 shares of the footwear maker’s stock, valued at approximately $629,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Accredited Investors Inc. lifted its position 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 acquiring an additional 19 shares during the last quarter. Montecito Bank & Trust lifted its position in Nike by 0.3% during the 1st quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after acquiring an additional 24 shares during the last quarter. Intrust Bank NA lifted its position in Nike by 0.9% during the 1st quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after acquiring an additional 46 shares during the last quarter. Welch & Forbes LLC lifted its position in Nike by 0.5% during the 1st quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after acquiring an additional 48 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Nike by 0.5% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after acquiring an additional 50 shares during the last quarter. 62.63% of the stock is owned by hedge funds and other institutional investors.

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Shares of Nike, Inc. (NYSE:NKE) traded down 0.30% during mid-day trading on Wednesday, hitting $53.17. 3,062,825 shares of the company traded hands. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The firm has a 50-day moving average of $55.57 and a 200-day moving average of $55.39. The stock has a market capitalization of $87.37 billion, a price-to-earnings ratio of 21.18 and a beta of 0.61.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The company 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 firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. On average, equities analysts predict that Nike, Inc. will post $2.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s payout ratio is currently 28.69%.

In related news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Hilary K. Krane sold 28,072 shares of the 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 owns 177,723 shares of the company’s stock, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,360 shares of company stock valued at $29,340,374. 3.90% of the stock is owned by company insiders.

A number of research analysts have weighed in on the stock. UBS AG reissued a “buy” rating and set a $62.00 target price (down previously from $63.00) on shares of Nike in a research report on Tuesday, June 27th. FBR & Co set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Canaccord Genuity set a $51.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $60.04.

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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