Nike, Inc. (NKE) Position Trimmed by IFP Advisors Inc
IFP Advisors Inc decreased its position in shares of Nike, Inc. (NYSE:NKE) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,621 shares of the footwear maker’s stock after selling 4,370 shares during the quarter. IFP Advisors Inc’s holdings in Nike were worth $3,164,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Wealth Management LLC acquired a new stake in shares of Nike in the 2nd quarter valued at $100,000. Webster Bank N. A. increased its stake in shares of Nike by 75.5% in the 1st quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock valued at $117,000 after purchasing an additional 900 shares during the last quarter. Rational Advisors LLC increased its stake in shares of Nike by 14.3% in the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after purchasing an additional 321 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in shares of Nike by 7.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after purchasing an additional 201 shares during the last quarter. 62.64% of the stock is owned by institutional investors and hedge funds.
NKE has been the subject of a number of research analyst reports. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price target for the company in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Saturday. Credit Suisse Group reaffirmed an “outperform” rating and issued a $63.00 price objective on shares of Nike in a research note on Saturday. Buckingham Research reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Nike in a research note on Thursday, September 28th. Finally, Instinet reiterated a “buy” rating and issued a $62.00 target price (up previously from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.23.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now owns 25,660 shares in the company, valued at $1,371,527. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the sale, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,117 shares of company stock valued at $9,409,321. 3.90% of the stock is owned by company insiders.
Nike, Inc. (NYSE:NKE) opened at 51.47 on Wednesday. The stock has a 50 day moving average price of $53.60 and a 200-day moving average price of $55.08. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The stock has a market cap of $84.36 billion, a P/E ratio of 21.91 and a beta of 0.61.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.73 EPS. On average, equities analysts anticipate that Nike, Inc. will post $2.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. Nike’s dividend payout ratio is currently 30.64%.
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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