Nike Inc. (NKE) Shares Sold by Mcmillion Capital Management Inc.
Mcmillion Capital Management Inc. cut its position in shares of Nike Inc. (NYSE:NKE) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 65,725 shares of the footwear maker’s stock after selling 1,365 shares during the period. Nike accounts for about 2.8% of Mcmillion Capital Management Inc.’s portfolio, making the stock its 10th largest position. Mcmillion Capital Management Inc.’s holdings in Nike were worth $3,628,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Institutional Trust Company N.A. boosted its position in Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock worth $2,265,096,000 after buying an additional 204,944 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Nike by 4.9% in the second quarter. Ameriprise Financial Inc. now owns 13,141,313 shares of the footwear maker’s stock valued at $725,254,000 after buying an additional 619,253 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock valued at $726,236,000 after buying an additional 177,028 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock valued at $711,300,000 after buying an additional 628,853 shares in the last quarter. 62.09% of the stock is owned by institutional investors and hedge funds.
Nike Inc. (NYSE:NKE) traded down 0.22% on Tuesday, reaching $54.83. The company’s stock had a trading volume of 4,859,546 shares. The firm has a market cap of $91.98 billion, a price-to-earnings ratio of 25.38 and a beta of 0.52. The firm has a 50 day moving average of $56.82 and a 200 day moving average of $57.52. Nike Inc. has a 12 month low of $51.48 and a 12 month high of $68.19.
Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. Nike had a return on equity of 29.57% and a net margin of 11.61%. The business earned $8.24 billion during the quarter, compared to analysts’ expectations of $8.28 billion. During the same quarter last year, the business posted $0.49 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Analysts anticipate that Nike Inc. will post $2.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s dividend payout ratio (DPR) is currently 29.63%.
Several analysts have weighed in on NKE shares. B. Riley reissued a “buy” rating and set a $66.00 price objective on shares of Nike in a report on Monday, June 27th. Susquehanna reissued a “positive” rating and set a $74.00 price objective on shares of Nike in a report on Wednesday, June 22nd. Cowen and Company reissued a “buy” rating on shares of Nike in a report on Wednesday, June 22nd. Piper Jaffray Cos. reissued an “overweight” rating and set a $58.00 price objective (down from $69.00) on shares of Nike in a report on Wednesday, June 29th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Nike in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $65.63.
In other news, Director John C. Lechleiter bought 1,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The stock was purchased at an average price of $55.09 per share, with a total value of $55,090.00. Following the transaction, the director now owns 23,682 shares of the company’s stock, valued at $1,304,641.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
Nike Company Profile
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.
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