Summit Financial Strategies Inc. bought a new stake in shares of Nike, Inc. (NYSE:NKE) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,572 shares of the footwear maker’s stock, valued at approximately $211,000.

A number of other large investors have also bought and sold shares of the business. Rockland Trust Co. increased its holdings in Nike by 7.9% during the 2nd quarter. Rockland Trust Co. now owns 147,581 shares of the footwear maker’s stock valued at $8,707,000 after acquiring an additional 10,857 shares in the last quarter. Global X Management Co. LLC increased its holdings in Nike by 17.1% during the 2nd quarter. Global X Management Co. LLC now owns 17,692 shares of the footwear maker’s stock valued at $1,044,000 after acquiring an additional 2,588 shares in the last quarter. Pioneer Investment Management Inc. increased its holdings in Nike by 12.9% during the 2nd quarter. Pioneer Investment Management Inc. now owns 3,565,933 shares of the footwear maker’s stock valued at $210,390,000 after acquiring an additional 408,627 shares in the last quarter. Seven Bridges Advisors LLC increased its holdings in Nike by 18.2% during the 2nd quarter. Seven Bridges Advisors LLC now owns 3,030 shares of the footwear maker’s stock valued at $179,000 after acquiring an additional 467 shares in the last quarter. Finally, AKO Capital LLP increased its holdings in Nike by 18.0% during the 2nd quarter. AKO Capital LLP now owns 855,034 shares of the footwear maker’s stock valued at $50,447,000 after acquiring an additional 130,276 shares in the last quarter. Hedge funds and other institutional investors own 62.64% of the company’s stock.

In related news, insider Eric D. Sprunk sold 112,323 shares of the company’s 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 directly owns 139,551 shares in the company, valued at $8,179,084.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. Insiders sold 162,117 shares of company stock valued at $9,409,321 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Shares of Nike, Inc. (NYSE NKE) opened at 52.42 on Friday. The company has a market cap of $85.92 billion, a price-to-earnings ratio of 22.32 and a beta of 0.61. The firm’s 50-day moving average is $53.09 and its 200 day moving average is $55.00. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. Equities analysts expect that Nike, Inc. will post $2.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Tuesday, September 5th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. Nike’s payout ratio is 30.64%.

Several research firms have weighed in on NKE. Morgan Stanley restated an “equal weight” rating and set a $56.00 target price on shares of Nike in a report on Wednesday, June 21st. Credit Suisse Group set a $63.00 target price on shares of Nike and gave the company a “buy” rating in a report on Saturday, June 24th. UBS AG restated a “buy” rating and set a $62.00 target price (down from $63.00) on shares of Nike in a report on Tuesday, June 27th. Nomura restated a “buy” rating and set a $60.00 target price on shares of Nike in a report on Friday, June 30th. Finally, Canaccord Genuity set a $51.00 target price on shares of Nike and gave the company a “hold” rating in a report on Saturday, July 1st. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $59.14.

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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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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