Hendley & Co. Inc. Sells 250 Shares of Nike, Inc. (NKE)
Hendley & Co. Inc. lowered its position in shares of Nike, Inc. (NYSE:NKE) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,380 shares of the footwear maker’s stock after selling 250 shares during the period. Nike comprises about 3.2% of Hendley & Co. Inc.’s portfolio, making the stock its 10th largest position. Hendley & Co. Inc.’s holdings in Nike were worth $5,371,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Winslow Evans & Crocker Inc. increased its position in shares of Nike by 5.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 7,858 shares of the footwear maker’s stock worth $438,000 after buying an additional 400 shares during the last quarter. Private Bank & Trust Co. bought a new position in shares of Nike during the first quarter worth about $220,000. First Command Financial Services Inc. increased its position in shares of Nike by 5.7% in the first quarter. First Command Financial Services Inc. now owns 2,650 shares of the footwear maker’s stock worth $147,000 after buying an additional 142 shares during the last quarter. Prospera Financial Services Inc increased its position in shares of Nike by 152.2% in the first quarter. Prospera Financial Services Inc now owns 15,471 shares of the footwear maker’s stock worth $854,000 after buying an additional 9,336 shares during the last quarter. Finally, Alpha Windward LLC increased its position in shares of Nike by 1.5% in the first quarter. Alpha Windward LLC now owns 4,078 shares of the footwear maker’s stock worth $227,000 after buying an additional 62 shares during the last quarter. 63.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NYSE NKE) traded down 0.03% during midday trading on Wednesday, reaching $58.54. 1,666,262 shares of the company’s stock were exchanged. The stock has a market cap of $96.19 billion, a P/E ratio of 23.32 and a beta of 0.59. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The company’s 50-day moving average is $58.31 and its 200-day moving average is $55.72. Nike also was the target of some unusual options trading on Tuesday. Traders bought 10,309 put options on the company. This represents an increase of 171% compared to the typical volume of 3,808 put options.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Zacks’ 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 return on equity of 34.18% and a net margin of 12.34%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Equities analysts expect that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio (DPR) is presently 28.69%.
A number of brokerages have issued reports on NKE. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 22nd. Guggenheim reissued a “buy” rating and set a $70.00 price objective on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC reissued an “overweight” rating and set a $65.00 price objective on shares of Nike in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $61.04.
In other news, insider Trevor A. Edwards sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the sale, the insider now directly owns 729,610 shares in the company, valued at $42,047,424.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the sale, the insider now owns 139,551 shares of the company’s stock, valued at $8,179,084.11. 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 90 days. Company 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’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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