Seven Bridges Advisors LLC Acquires 467 Shares of Nike, Inc. (NKE)
Seven Bridges Advisors LLC increased its holdings in shares of Nike, Inc. (NYSE:NKE) by 18.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,030 shares of the footwear maker’s stock after acquiring an additional 467 shares during the quarter. Seven Bridges Advisors LLC’s holdings in Nike were worth $179,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Royal Bank of Scotland Group PLC increased its position in Nike by 6.2% during the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after acquiring an additional 12,201 shares during the period. North Star Asset Management Inc. increased its position in Nike by 7.8% during the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after acquiring an additional 4,129 shares during the period. Hartford Investment Management Co. increased its position in Nike by 5.5% during the second quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock worth $21,283,000 after acquiring an additional 18,759 shares during the period. Eastern Bank increased its position in Nike by 1.2% during the second quarter. Eastern Bank now owns 195,694 shares of the footwear maker’s stock worth $11,545,000 after acquiring an additional 2,342 shares during the period. Finally, WINTON GROUP Ltd increased its position in Nike by 2,434.9% during the first quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after acquiring an additional 288,216 shares during the period. 62.64% of the stock is currently owned by institutional investors and hedge funds.
NKE has been the topic of a number of recent research reports. Berenberg Bank reaffirmed a “buy” rating and set a $70.00 price target on shares of Nike in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) set a $62.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Friday, June 16th. Vetr raised shares of Nike from a “hold” rating to a “buy” rating and set a $55.06 price target on the stock in a research report on Thursday, June 15th. Deutsche Bank AG set a $63.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, June 20th. Finally, Credit Suisse Group AG set a $63.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Saturday, June 24th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $59.14.
In other Nike news, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the transaction, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,117 shares of company stock valued at $9,409,321. 3.90% of the stock is owned by corporate insiders.
Shares of Nike, Inc. (NYSE NKE) opened at 52.18 on Friday. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The company has a 50-day moving average of $53.23 and a 200 day moving average of $55.04. The firm has a market cap of $85.53 billion, a P/E ratio of 22.21 and a beta of 0.61.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. On average, equities analysts expect that Nike, Inc. will post $2.33 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. Nike’s dividend payout ratio (DPR) is 30.64%.
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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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