Surevest LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,559 shares of the footwear maker’s stock after acquiring an additional 1,451 shares during the period. NIKE makes up about 1.6% of Surevest LLC’s portfolio, making the stock its 16th biggest holding. Surevest LLC’s holdings in NIKE were worth $4,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in NIKE by 5.2% in the second quarter. BlackRock Inc. now owns 95,685,586 shares of the footwear maker’s stock valued at $9,381,973,000 after purchasing an additional 4,708,888 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of NIKE by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 26,767,069 shares of the footwear maker’s stock valued at $2,624,512,000 after buying an additional 219,450 shares in the last quarter. Capital World Investors raised its position in shares of NIKE by 2.5% in the 1st quarter. Capital World Investors now owns 20,704,258 shares of the footwear maker’s stock valued at $1,713,079,000 after buying an additional 508,120 shares in the last quarter. Morgan Stanley lifted its holdings in shares of NIKE by 34.4% during the 1st quarter. Morgan Stanley now owns 20,528,550 shares of the footwear maker’s stock worth $1,698,534,000 after acquiring an additional 5,256,195 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings in shares of NIKE by 0.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 12,847,672 shares of the footwear maker’s stock worth $1,259,714,000 after acquiring an additional 45,165 shares during the period. Hedge funds and other institutional investors own 64.20% of the company’s stock.
Several brokerages have commented on NKE. Needham & Company LLC boosted their price objective on shares of NIKE from $113.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, September 18th. Argus upped their price objective on NIKE from $115.00 to $145.00 in a research report on Thursday, September 24th. Sanford C. Bernstein raised their price objective on NIKE from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Bank of America increased their target price on shares of NIKE from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, September 23rd. Finally, Goldman Sachs Group reiterated a “buy” rating and set a $140.00 price objective (up from $126.00) on shares of NIKE in a research report on Wednesday, September 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $137.03.
NKE traded down $1.00 during trading on Friday, hitting $128.00. The company’s stock had a trading volume of 6,011,173 shares, compared to its average volume of 7,844,968. The firm has a market capitalization of $199.67 billion, a P/E ratio of 76.65, a PEG ratio of 2.80 and a beta of 0.80. NIKE, Inc. has a twelve month low of $60.00 and a twelve month high of $131.34. The stock’s fifty day moving average price is $120.42 and its 200-day moving average price is $101.42. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02.
NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 22nd. The footwear maker reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.49. The company had revenue of $10.59 billion during the quarter, compared to analyst estimates of $9.15 billion. NIKE had a net margin of 7.20% and a return on equity of 34.62%. NIKE’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.27 EPS. Equities research analysts expect that NIKE, Inc. will post 2.78 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, August 31st were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Friday, August 28th. NIKE’s payout ratio is 52.97%.
In related news, EVP Monique S. Matheson sold 8,500 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $108.00, for a total value of $918,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andrew Campion sold 5,043 shares of NIKE stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $97.12, for a total value of $489,776.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 841,962 shares of company stock worth $103,292,012. 3.80% of the stock is owned by company insiders.
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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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