Nike, Inc. (NKE) Position Increased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its stake in shares of Nike, Inc. (NYSE:NKE) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 4,194,982 shares of the footwear maker’s stock after buying an additional 158,653 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Nike were worth $233,787,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of NKE. Brown Advisory Securities LLC increased its stake in shares of Nike by 185.9% in the first quarter. Brown Advisory Securities LLC now owns 16,144 shares of the footwear maker’s stock valued at $898,000 after buying an additional 10,498 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Nike during the first quarter valued at approximately $1,957,000. MARSHALL WACE ASIA Ltd purchased a new stake in shares of Nike during the first quarter valued at approximately $1,957,000. Bailard Inc. increased its stake in shares of Nike by 4.0% in the first quarter. Bailard Inc. now owns 11,183 shares of the footwear maker’s stock valued at $623,000 after buying an additional 430 shares in the last quarter. Finally, Putnam FL Investment Management Co. increased its stake in shares of Nike by 11.7% in the first quarter. Putnam FL Investment Management Co. now owns 9,895 shares of the footwear maker’s stock valued at $551,000 after buying an additional 1,034 shares in the last quarter. Institutional investors own 64.77% of the company’s stock.
Shares of Nike, Inc. (NYSE NKE) traded down 0.17% during midday trading on Friday, hitting $58.97. The stock had a trading volume of 4,979,994 shares. The firm has a market cap of $96.90 billion, a P/E ratio of 23.49 and a beta of 0.59. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The company’s 50 day moving average is $57.96 and its 200 day moving average is $55.61.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. On average, equities analysts predict that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s dividend payout ratio is currently 28.69%.
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Several brokerages have recently commented on NKE. Cowen and Company set a $54.00 target price on shares of Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies restated a “buy” rating on shares of Nike in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Guggenheim restated a “buy” rating and issued a $70.00 target price on shares of Nike in a research note on Monday, July 24th. Finally, Stifel Nicolaus set a $66.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Saturday, July 22nd. 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 stock. Nike currently has an average rating of “Buy” and an average price target of $61.04.
In other news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Trevor A. Edwards sold 200,000 shares of the firm’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 transaction of $11,526,000.00. Following the sale, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 in the last 90 days. 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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