Profund Advisors LLC boosted its holdings in shares of Nike Inc (NYSE:NKE) by 8.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,713 shares of the footwear maker’s stock after buying an additional 2,489 shares during the quarter. Profund Advisors LLC’s holdings in Nike were worth $2,578,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Bank of Nova Scotia increased its position in Nike by 25.7% during the second quarter. Bank of Nova Scotia now owns 375,971 shares of the footwear maker’s stock worth $30,799,000 after buying an additional 76,852 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its position in Nike by 1.3% during the second quarter. Bank of Nova Scotia Trust Co. now owns 71,789 shares of the footwear maker’s stock worth $6,027,000 after buying an additional 939 shares during the last quarter. Captrust Financial Advisors increased its position in Nike by 1.9% during the second quarter. Captrust Financial Advisors now owns 47,714 shares of the footwear maker’s stock worth $4,016,000 after buying an additional 904 shares during the last quarter. Banco de Sabadell S.A increased its position in Nike by 59.8% during the second quarter. Banco de Sabadell S.A now owns 68,054 shares of the footwear maker’s stock worth $5,712,000 after buying an additional 25,460 shares during the last quarter. Finally, Wall Street Access Asset Management LLC acquired a new position in Nike during the second quarter worth $1,744,000. 65.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Elizabeth J. Comstock sold 24,000 shares of the 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 transaction, the director now owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $85.26, for a total transaction of $9,378,600.00. The disclosure for this sale can be found here. Insiders sold 194,637 shares of company stock valued at $16,767,237 in the last three months. Company insiders own 3.80% of the company’s stock.
Shares of NYSE NKE remained flat at $$87.67 during mid-day trading on Friday. 2,029,556 shares of the company traded hands, compared to its average volume of 5,378,353. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The firm’s 50 day moving average price is $83.77 and its 200-day moving average price is $84.72. Nike Inc has a twelve month low of $66.53 and a twelve month high of $90.00. The company has a market cap of $136.05 billion, a price-to-earnings ratio of 35.21, a P/E/G ratio of 2.30 and a beta of 0.79.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The company had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Nike Inc will post 2.9 EPS for the current fiscal year.
The firm also recently declared 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. This represents a $0.88 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s dividend payout ratio (DPR) is presently 35.34%.
A number of research firms have issued reports on NKE. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a report on Monday, May 27th. Bank of America upgraded shares of Nike to an “underperform” rating and upped their price target for the company from $60.00 to $70.00 in a report on Monday, June 24th. Canaccord Genuity restated a “buy” rating and set a $96.00 price target on shares of Nike in a report on Wednesday, June 19th. Pivotal Research set a $101.00 price target on shares of Nike and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Piper Jaffray Companies set a $97.00 price target on shares of Nike and gave the company a “buy” rating in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and an average target price of $90.39.
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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