Dearborn Partners LLC Has $2.27 Million Holdings in Nike, Inc. (NKE)
Dearborn Partners LLC lifted its position in Nike, Inc. (NYSE:NKE) by 26.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,448 shares of the footwear maker’s stock after buying an additional 8,053 shares during the period. Dearborn Partners LLC’s holdings in Nike were worth $2,268,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. OppenheimerFunds Inc. raised its stake in shares of Nike by 7,020.1% in the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares in the last quarter. Flossbach Von Storch AG raised its stake in shares of Nike by 141.9% in the 2nd quarter. Flossbach Von Storch AG now owns 4,669,950 shares of the footwear maker’s stock worth $275,527,000 after buying an additional 2,739,500 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Nike by 5.0% in the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Nike in the 1st quarter worth $122,886,000. Finally, Harbour Capital Advisors LLC raised its stake in shares of Nike by 5,753.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,925,583 shares of the footwear maker’s stock worth $32,637,000 after buying an additional 1,892,686 shares in the last quarter. 62.57% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on the company. Forward View raised Nike from a “sell” rating to a “hold” rating in a research note on Sunday, October 29th. Piper Jaffray Companies reissued a “hold” rating and issued a $50.00 price objective on shares of Nike in a research note on Wednesday, November 1st. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $58.95 price objective on the stock in a research note on Monday, October 30th. FBR & Co reissued a “hold” rating and issued a $53.00 price objective on shares of Nike in a research note on Friday, October 27th. Finally, Wells Fargo & Company set a $56.00 price objective on Nike and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.93.
In other news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Nike, Inc. (NYSE NKE) opened at $55.71 on Monday. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $91,542.34, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 2.60 and a beta of 0.60. Nike, Inc. has a twelve month low of $49.75 and a twelve month high of $60.53.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 EPS. equities research analysts expect that Nike, Inc. will post 2.29 earnings per share for the current year.
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Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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