Hemenway Trust Co LLC Invests $248,000 in Nike, Inc. (NYSE:NKE)
Hemenway Trust Co LLC acquired a new stake in shares of Nike, Inc. (NYSE:NKE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,200 shares of the footwear maker’s stock, valued at approximately $248,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of Nike by 41.0% in the fourth quarter. Macquarie Group Ltd. now owns 209,770 shares of the footwear maker’s stock valued at $10,663,000 after buying an additional 61,015 shares during the period. Country Club Trust Company n.a. bought a new position in shares of Nike during the first quarter valued at about $253,000. National Pension Service increased its position in shares of Nike by 6.8% in the first quarter. National Pension Service now owns 985,191 shares of the footwear maker’s stock valued at $55,210,000 after buying an additional 62,631 shares during the period. Carroll Financial Associates Inc. increased its position in shares of Nike by 2.2% in the first quarter. Carroll Financial Associates Inc. now owns 9,091 shares of the footwear maker’s stock valued at $506,000 after buying an additional 198 shares during the period. Finally, First American Bank increased its position in shares of Nike by 23.6% in the first quarter. First American Bank now owns 44,388 shares of the footwear maker’s stock valued at $2,474,000 after buying an additional 8,475 shares during the period. Institutional investors and hedge funds own 63.47% of the company’s stock.
Nike, Inc. (NKE) traded up 1.59% during midday trading on Monday, reaching $59.91. 2,342,293 shares of the company’s stock traded hands. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The firm’s 50-day moving average is $57.96 and its 200 day moving average is $55.61. The firm has a market cap of $98.44 billion, a PE ratio of 23.87 and a beta of 0.59.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. Equities research analysts expect that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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Several research analysts have recently issued reports on the stock. UBS AG reiterated a “buy” rating and set a $62.00 price target (down from $63.00) on shares of Nike in a report on Tuesday, June 27th. Canaccord Genuity set a $51.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. FBR & Co set a $53.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $50.00 price target on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 1st. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have given a buy rating to the company. Nike presently has a consensus rating of “Buy” and a consensus target price of $61.04.
In other Nike news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the transaction, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares of the company’s stock, valued at $17,706,372. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 over the last ninety days. Corporate 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’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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