NINE MASTS CAPITAL Ltd Acquires Shares of 3,600 Nike, Inc. (NKE)
NINE MASTS CAPITAL Ltd acquired a new stake in Nike, Inc. (NYSE:NKE) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,600 shares of the footwear maker’s stock, valued at approximately $201,000.
A number of other large investors also recently modified their holdings of the company. Capital Investment Advisors LLC increased its stake in shares of Nike by 17.6% in the first quarter. Capital Investment Advisors LLC now owns 16,257 shares of the footwear maker’s stock valued at $906,000 after buying an additional 2,431 shares during the period. Palisade Capital Management LLC NJ increased its stake in shares of Nike by 2.7% in the first quarter. Palisade Capital Management LLC NJ now owns 33,850 shares of the footwear maker’s stock valued at $1,886,000 after buying an additional 875 shares during the period. DnB Asset Management AS increased its stake in shares of Nike by 11.7% in the first quarter. DnB Asset Management AS now owns 146,817 shares of the footwear maker’s stock valued at $8,182,000 after buying an additional 15,380 shares during the period. Bank of The West increased its stake in shares of Nike by 3.4% in the first quarter. Bank of The West now owns 41,669 shares of the footwear maker’s stock valued at $2,322,000 after buying an additional 1,362 shares during the period. Finally, Patten & Patten Inc. TN increased its stake in shares of Nike by 20.6% in the first quarter. Patten & Patten Inc. TN now owns 88,267 shares of the footwear maker’s stock valued at $4,919,000 after buying an additional 15,085 shares during the period. Hedge funds and other institutional investors own 62.71% of the company’s stock.
Shares of Nike, Inc. (NKE) traded down 2.328% during trading on Tuesday, hitting $52.479. 4,667,130 shares of the stock traded hands. The company has a 50 day moving average price of $58.03 and a 200 day moving average price of $55.80. The firm has a market cap of $86.23 billion, a price-to-earnings ratio of 20.908 and a beta of 0.59. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts anticipate that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s payout ratio is 28.69%.
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NKE has been the subject of several research reports. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of Nike in a research report on Friday, May 5th. Nomura restated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Instinet restated a “buy” rating on shares of Nike in a research report on Monday, May 15th. Berenberg Bank initiated coverage on shares of Nike in a research report on Tuesday, May 16th. They set a “buy” rating and a $70.00 price objective for the company. Finally, Canaccord Genuity set a $51.00 price objective on shares of Nike and gave the stock a “hold” rating in a research report on Friday, May 26th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have given a buy rating to the company. Nike presently has an average rating of “Buy” and a consensus price target of $60.42.
In other Nike news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the transaction, the insider now directly owns 300,108 shares in the company, valued at approximately $17,706,372. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Campion sold 96,243 shares of the stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares in the company, valued at $2,847,943.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is owned by company 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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