Ledyard National Bank Has $7.83 Million Holdings in Nike, Inc. (NKE)
Ledyard National Bank raised its stake in Nike, Inc. (NYSE:NKE) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,703 shares of the footwear maker’s stock after purchasing an additional 935 shares during the period. Nike comprises 1.1% of Ledyard National Bank’s investment portfolio, making the stock its 22nd biggest position. Ledyard National Bank’s holdings in Nike were worth $7,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Royal Bank of Scotland Group PLC raised its position in Nike by 6.2% in the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock valued at $11,582,000 after purchasing an additional 12,201 shares in the last quarter. North Star Asset Management Inc. raised its position in Nike by 7.8% in the 1st quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock valued at $3,162,000 after purchasing an additional 4,129 shares in the last quarter. WINTON GROUP Ltd raised its position in Nike by 2,434.9% in the 1st quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock valued at $15,798,000 after purchasing an additional 288,216 shares in the last quarter. Fifth Third Bancorp raised its position in Nike by 3.7% in the 1st quarter. Fifth Third Bancorp now owns 1,120,494 shares of the footwear maker’s stock valued at $62,445,000 after purchasing an additional 39,554 shares in the last quarter. Finally, Summit Global Investments acquired a new stake in Nike in the 1st quarter valued at about $508,000. 62.63% of the stock is currently owned by institutional investors.
Nike, Inc. (NYSE:NKE) traded down 1.48% during trading on Friday, reaching $51.85. The company’s stock had a trading volume of 12,189,882 shares. The firm has a market capitalization of $84.99 billion, a P/E ratio of 22.07 and a beta of 0.61. The firm has a 50-day moving average price of $55.57 and a 200-day moving average price of $55.39. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Nike, Inc. will post $2.35 EPS for the current fiscal year.
The business 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.39%. Nike’s dividend payout ratio (DPR) is presently 30.64%.
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A number of research analysts have recently commented on NKE shares. UBS AG reiterated a “buy” rating and issued a $62.00 price objective (down previously from $63.00) on shares of Nike in a report on Tuesday, June 27th. FBR & Co set a $53.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Canaccord Genuity set a $51.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $50.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $59.25.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction 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 sale, the director now owns 25,660 shares in the company, valued at $1,371,527. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the sale, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders have sold a total of 362,117 shares of company stock valued at $20,935,321 in the last quarter. 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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