Alberta Investment Management Corp lessened its position in Nike Inc (NYSE:NKE) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,000 shares of the footwear maker’s stock after selling 15,300 shares during the quarter. Alberta Investment Management Corp’s holdings in Nike were worth $13,684,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Connors Investor Services Inc. raised its holdings in shares of Nike by 2.2% in the 2nd quarter. Connors Investor Services Inc. now owns 159,591 shares of the footwear maker’s stock valued at $13,398,000 after buying an additional 3,370 shares during the period. Man Group plc raised its holdings in shares of Nike by 63.7% in the 2nd quarter. Man Group plc now owns 1,002,863 shares of the footwear maker’s stock valued at $84,148,000 after buying an additional 390,082 shares during the period. Ensemble Capital Management LLC raised its holdings in shares of Nike by 24.0% in the 2nd quarter. Ensemble Capital Management LLC now owns 41,860 shares of the footwear maker’s stock valued at $3,514,000 after buying an additional 8,100 shares during the period. Capital Bank & Trust Co raised its holdings in shares of Nike by 1.3% in the 2nd quarter. Capital Bank & Trust Co now owns 595,771 shares of the footwear maker’s stock valued at $49,996,000 after buying an additional 7,506 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Nike by 10.1% in the 2nd quarter. Assetmark Inc. now owns 3,703 shares of the footwear maker’s stock valued at $311,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 65.04% of the company’s stock.
Several equities research analysts recently issued reports on NKE shares. Credit Suisse Group reiterated an “in-line” rating and issued a $105.00 price objective (up previously from $97.00) on shares of Nike in a report on Wednesday. Canaccord Genuity restated a “buy” rating and set a $96.00 price target on shares of Nike in a report on Wednesday, June 19th. Goldman Sachs Group set a $95.00 price target on Nike and gave the stock a “neutral” rating in a report on Wednesday. Citigroup upped their price target on Nike from $100.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Piper Jaffray Companies upped their price target on Nike from $97.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $94.52.
NYSE:NKE opened at $92.31 on Friday. The stock has a 50-day simple moving average of $84.90 and a 200-day simple moving average of $84.90. The stock has a market cap of $142.29 billion, a P/E ratio of 37.07, a P/E/G ratio of 2.39 and a beta of 0.79. Nike Inc has a 1 year low of $66.53 and a 1 year high of $92.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 2.01.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. The business had revenue of $10.66 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities research analysts predict that Nike Inc will post 2.94 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.95%. Nike’s dividend payout ratio (DPR) is presently 35.34%.
In related news, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $85.26, for a total value of $9,378,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the sale, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 416,582 shares of company stock valued at $37,184,230. Insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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