Nike, Inc. (NKE) Shares Bought by Bank of The West
Bank of The West boosted its stake in shares of Nike, Inc. (NYSE:NKE) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,457 shares of the footwear maker’s stock after acquiring an additional 788 shares during the quarter. Bank of The West’s holdings in Nike were worth $2,505,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of NKE. Jennison Associates LLC grew its holdings in Nike by 124.7% during the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after acquiring an additional 13,953,567 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Nike by 7,020.1% during the 1st quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after acquiring an additional 5,274,656 shares during the last quarter. Wellington Management Group LLP grew its holdings in Nike by 5.0% during the 1st quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after acquiring an additional 2,375,447 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Nike during the 1st quarter worth about $122,886,000. Finally, Pioneer Investment Management Inc. grew its holdings in Nike by 108.4% during the 1st quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock worth $175,956,000 after acquiring an additional 1,642,177 shares during the last quarter. 62.63% of the stock is currently owned by hedge funds and other institutional investors.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. Nike’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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 yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is currently 28.69%.
NKE has been the topic of a number of research analyst reports. Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Thursday, June 1st. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Vetr lowered shares of Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective on the stock. in a report on Monday, June 5th. Morgan Stanley reissued a “neutral” rating and set a $56.00 price objective on shares of Nike in a report on Wednesday, June 7th. Finally, Berenberg Bank reissued a “buy” rating and set a $70.00 price objective on shares of Nike in a report on Wednesday, June 14th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.04.
In related news, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The stock was 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 directly owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were 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 of the company’s stock, valued at $42,047,424.30. The disclosure for this sale can be found here. Insiders sold a total of 508,360 shares of company stock valued at $29,340,374 over the last three months. 3.90% of the stock is currently owned by insiders.
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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