Nike Inc. (NKE) Position Increased by Northwest Investment Counselors LLC
Northwest Investment Counselors LLC boosted its position in Nike Inc. (NYSE:NKE) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,971 shares of the footwear maker’s stock after buying an additional 478 shares during the period. Northwest Investment Counselors LLC’s holdings in Nike were worth $1,710,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. CapWealth Advisors LLC boosted its stake in shares of Nike by 183.3% in the first quarter. CapWealth Advisors LLC now owns 1,700 shares of the footwear maker’s stock worth $104,000 after buying an additional 1,100 shares during the last quarter. Cribstone Capital Management LLC bought a new stake in shares of Nike during the second quarter worth $106,000. Brick & Kyle Associates boosted its stake in shares of Nike by 12.5% in the first quarter. Brick & Kyle Associates now owns 1,800 shares of the footwear maker’s stock worth $111,000 after buying an additional 200 shares during the last quarter. Gierl Augustine Investment Management Inc boosted its stake in shares of Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the last quarter. 62.09% of the stock is currently owned by institutional investors.
Nike Inc. (NYSE:NKE) traded down 0.52% during mid-day trading on Friday, hitting $55.18. 11,715,439 shares of the company traded hands. The firm has a market capitalization of $92.57 billion, a P/E ratio of 25.55 and a beta of 0.52. The firm has a 50 day moving average of $56.89 and a 200 day moving average of $57.72. Nike Inc. has a one year low of $51.48 and a one year high of $68.19.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. Nike had a net margin of 11.61% and a return on equity of 29.57%. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that Nike Inc. will post $2.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is presently 29.63%.
A number of equities analysts have issued reports on the company. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research note on Friday. Cowen and Company set a $63.00 price target on Nike and gave the company a “buy” rating in a research note on Tuesday, September 13th. Jefferies Group reiterated a “buy” rating on shares of Nike in a report on Monday, September 12th. Barclays PLC set a $70.00 price objective on Nike and gave the stock a “buy” rating in a report on Monday, September 12th. Finally, Piper Jaffray Cos. lowered Nike from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $57.72 to $58.00 in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $65.79.
In related news, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $57.75, for a total transaction of $4,198,194.00. Following the sale, the executive vice president now owns 231,861 shares of the company’s stock, valued at approximately $13,389,972.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now directly owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc. (NYSE:NKE).
Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.