Tributary Capital Management LLC Sells 600 Shares of Nike Inc. (NKE)
Tributary Capital Management LLC cut its stake in Nike Inc. (NYSE:NKE) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,600 shares of the footwear maker’s stock after selling 600 shares during the period. Tributary Capital Management LLC’s holdings in Nike were worth $806,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Capstone Asset Management Co. increased its position in shares of Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock valued at $21,220,000 after buying an additional 29,538 shares during the last quarter. National Pension Service increased its position in shares of Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock valued at $43,599,000 after buying an additional 27,918 shares during the last quarter. Gofen & Glossberg LLC IL increased its position in shares of Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock valued at $16,806,000 after buying an additional 2,890 shares during the last quarter. AMP Capital Investors Ltd purchased a new position in shares of Nike during the first quarter valued at $37,460,000. Finally, Bath Savings Trust Co increased its position in shares of Nike by 2.8% in the second quarter. Bath Savings Trust Co now owns 202,524 shares of the footwear maker’s stock valued at $11,179,000 after buying an additional 5,515 shares during the last quarter. Institutional investors and hedge funds own 62.09% of the company’s stock.
Shares of Nike Inc. (NYSE:NKE) traded down 0.208% on Monday, hitting $55.065. The stock had a trading volume of 4,702,870 shares. The company has a market cap of $92.38 billion, a price-to-earnings ratio of 25.493 and a beta of 0.52. The firm has a 50 day moving average price of $56.89 and a 200-day moving average price of $57.72. Nike Inc. has a 52 week low of $51.48 and a 52 week high of $68.20.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 28th. The footwear maker reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same quarter last year, the firm earned $0.49 EPS. Nike’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts anticipate that Nike Inc. will post $2.40 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 1st. Nike’s payout ratio is presently 29.63%.
NKE has been the subject of several analyst reports. Vetr downgraded shares of Nike from a “strong-buy” rating to a “buy” rating and set a $62.64 target price for the company. in a research note on Tuesday, May 24th. Deutsche Bank AG reissued a “buy” rating on shares of Nike in a research note on Tuesday, May 31st. Morgan Stanley downgraded shares of Nike from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $69.00 to $60.00 in a research note on Wednesday, June 1st. Bank of America Corp. downgraded shares of Nike from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $72.00 to $60.00 in a research note on Wednesday, June 1st. Finally, Zacks Investment Research downgraded shares of Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, June 14th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.79.
In other news, EVP John F. Slusher sold 72,696 shares of Nike stock in a transaction that occurred on Tuesday, July 26th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Lechleiter acquired 1,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were purchased at an average cost of $55.09 per share, for a total transaction of $55,090.00. Following the acquisition, the director now directly owns 23,682 shares in the company, valued at approximately $1,304,641.38. The disclosure for this purchase can be found here. Insiders own 3.90% of the company’s stock.
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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