Morse Asset Management Inc lowered its position in Nike, Inc. (NYSE:NKE) by 48.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,358 shares of the footwear maker’s stock after selling 27,050 shares during the quarter. Morse Asset Management Inc’s holdings in Nike were worth $1,732,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. V Wealth Management LLC purchased a new position in shares of Nike in the second quarter valued at $100,000. Webster Bank N. A. increased its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. Rational Advisors LLC increased its position in shares of Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares in the last quarter. Kistler Tiffany Companies LLC increased its position in shares of Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Nike by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after buying an additional 201 shares in the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.
Shares of Nike, Inc. (NYSE NKE) opened at 52.42 on Friday. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The company has a market capitalization of $85.92 billion, a P/E ratio of 22.32 and a beta of 0.61. The stock has a 50 day moving average price of $53.09 and a 200-day moving average price of $55.00.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the company earned $0.73 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts predict that Nike, Inc. will post $2.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Nike’s dividend payout ratio is currently 30.64%.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders sold a total of 162,117 shares of company stock valued at $9,409,321 in the last quarter. Corporate insiders own 3.90% of the company’s stock.
A number of research analysts have recently weighed in on NKE shares. Berenberg Bank restated a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. BidaskClub upgraded Nike from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price target for the company in a research report on Thursday, June 15th. J P Morgan Chase & Co cut Nike from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $61.00 to $58.00 in a research report on Friday, June 16th. Finally, Goldman Sachs Group, Inc. (The) set a $62.00 price target on Nike and gave the company a “buy” rating in a research report on Friday, June 16th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Nike currently has an average rating of “Hold” and a consensus price target of $59.14.
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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