Icon Advisers Inc. Co. Acquires 8,800 Shares of Nike Inc (NYSE:NKE)
Icon Advisers Inc. Co. increased its holdings in Nike Inc (NYSE:NKE) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,253 shares of the footwear maker’s stock after acquiring an additional 8,800 shares during the quarter. Nike makes up about 1.6% of Icon Advisers Inc. Co.’s holdings, making the stock its 10th biggest position. Icon Advisers Inc. Co.’s holdings in Nike were worth $16,979,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after purchasing an additional 4,908,916 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Nike by 4.7% during the second quarter. Janus Henderson Group PLC now owns 11,145,233 shares of the footwear maker’s stock valued at $935,594,000 after buying an additional 504,108 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Nike by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock valued at $260,074,000 after buying an additional 69,032 shares in the last quarter. Bessemer Group Inc. boosted its stake in Nike by 40.8% during the second quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock valued at $275,583,000 after buying an additional 950,574 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Nike by 10.5% during the first quarter. Bank of Montreal Can now owns 3,201,840 shares of the footwear maker’s stock valued at $269,624,000 after buying an additional 305,552 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently weighed in on NKE. Canaccord Genuity reaffirmed a “buy” rating and set a $96.00 target price on shares of Nike in a research note on Wednesday, June 19th. Goldman Sachs Group set a $83.00 price target on Nike and gave the company a “neutral” rating in a research report on Monday, July 1st. Bank of America upgraded Nike to an “underperform” rating and increased their price target for the company from $60.00 to $70.00 in a research report on Monday, June 24th. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 price target on shares of Nike in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their price target on Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company. Nike has an average rating of “Buy” and an average target price of $90.02.
Shares of NKE traded down $0.03 during midday trading on Friday, reaching $79.48. 80,371 shares of the stock were exchanged, compared to its average volume of 5,949,723. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00. The firm has a 50 day simple moving average of $85.29 and a 200-day simple moving average of $84.68. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. The company has a market cap of $130.55 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 2.21 and a beta of 0.78.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the business earned $0.69 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts expect that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.11%. Nike’s payout ratio is currently 35.34%.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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