Adell Harriman & Carpenter Inc. lowered its holdings in shares of Nike, Inc. (NYSE:NKE) by 28.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,150 shares of the footwear maker’s stock after selling 22,356 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Nike were worth $3,372,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. V Wealth Management LLC acquired a new stake in Nike during the 2nd quarter worth $100,000. Asset Planning Services Ltd. raised its position in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares during the last quarter. Rational Advisors LLC raised its position in Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares during the last quarter. Kistler Tiffany Companies LLC raised its position in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after buying an additional 201 shares during the last quarter. Hedge funds and other institutional investors own 62.55% of the company’s stock.
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In other Nike news, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now directly owns 34,976 shares in the company, valued at approximately $2,077,574.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,045 shares of company stock worth $7,778,338. Insiders own 3.90% of the company’s stock.
Shares of Nike, Inc. (NKE) opened at 52.30 on Thursday. The company has a market cap of $85.72 billion, a price-to-earnings ratio of 22.26 and a beta of 0.61. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The firm has a 50 day moving average price of $52.55 and a 200-day moving average price of $54.72.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. Equities research analysts anticipate that Nike, Inc. will post $2.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders 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 1.38%. Nike’s dividend payout ratio is currently 30.64%.
A number of equities analysts have recently issued reports on the stock. Piper Jaffray Companies set a $50.00 price target on shares of Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Robert W. Baird restated an “outperform” rating and set a $62.00 target price on shares of Nike in a report on Friday, June 30th. Citigroup Inc. restated a “buy” rating and set a $65.00 target price (down from $67.00) on shares of Nike in a report on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $58.00 price target (down from $63.00) on shares of Nike in a research note on Monday, August 21st. Finally, FBR & Co reaffirmed a “hold” rating and set a $53.00 price target on shares of Nike in a research note on Wednesday, September 27th. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus 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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