Nike, Inc. (NKE) Stake Raised by Garde Capital Inc.
Garde Capital Inc. increased its stake in Nike, Inc. (NYSE:NKE) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,132 shares of the footwear maker’s stock after buying an additional 300 shares during the period. Garde Capital Inc.’s holdings in Nike were worth $565,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its stake in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares during the last quarter. Wellington Management Group LLP increased its stake in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares during the last quarter. Jennison Associates LLC increased its stake in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after buying an additional 1,130,409 shares during the last quarter. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Nike, Inc. (NYSE NKE) traded down 1.848% on Tuesday, reaching $58.675. The company’s stock had a trading volume of 1,719,369 shares. The company has a market cap of $96.41 billion, a P/E ratio of 23.376 and a beta of 0.59. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The company has a 50-day moving average price of $58.16 and a 200 day moving average price of $55.68.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 return on equity of 34.18% and a net margin of 12.34%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. On average, equities research analysts anticipate that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be paid a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.20%. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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Several analysts have issued reports on NKE shares. Nomura restated a “buy” rating and set a $60.00 price objective on shares of Nike in a report on Friday, June 30th. J P Morgan Chase & Co downgraded Nike from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $61.00 to $58.00 in a report on Friday, June 16th. Telsey Advisory Group cut their price objective on Nike from $66.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. Cowen and Company boosted their price objective on Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a report on Friday, June 30th. Finally, Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price objective on the stock in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $61.04.
In related news, insider Trevor A. Edwards sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was 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 in the company, valued at approximately $42,047,424.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the completion of the sale, the chief financial officer now owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock valued at $28,485,174 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
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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