Round Table Services LLC raised its position in shares of Nike, Inc. (NYSE:NKE) by 12.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,089 shares of the footwear maker’s stock after buying an additional 460 shares during the period. Round Table Services LLC’s holdings in Nike were worth $241,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. V Wealth Management LLC purchased a new stake in shares of Nike during the second quarter worth approximately $100,000. Crestwood Advisors Group LLC purchased a new stake in shares of Nike during the first quarter worth approximately $117,000. Webster Bank N. A. raised its stake in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares in the last quarter. Gierl Augustine Investment Management Inc raised its stake in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares in the last quarter. Finally, Asset Planning Services Ltd. bought a new stake in shares of Nike during the first quarter worth approximately $118,000. 63.47% of the stock is owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NYSE:NKE) opened at 54.95 on Friday. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market capitalization of $90.29 billion, a P/E ratio of 21.89 and a beta of 0.59. The stock has a 50 day moving average of $58.64 and a 200-day moving average of $55.77. Nike also saw some unusual options trading activity on Wednesday. Investors purchased 14,365 call options on the stock. This is an increase of 228% compared to the typical daily volume of 4,379 call options.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. Equities research analysts forecast that Nike, Inc. will post $2.42 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.31%. Nike’s dividend payout ratio (DPR) is presently 28.69%.
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Several equities analysts have recently issued reports on the company. Piper Jaffray Companies set a $50.00 target price on Nike and gave the company a “hold” rating in a report on Saturday, July 1st. BidaskClub raised Nike from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Vetr downgraded Nike from a “buy” rating to a “hold” rating and set a $54.16 price objective on the stock. in a research note on Monday, June 5th. Robert W. Baird reiterated an “outperform” rating and issued a $62.00 price objective on shares of Nike in a research note on Friday, June 30th. Finally, Morgan Stanley reiterated a “neutral” rating and issued a $56.00 price objective on shares of Nike in a research note on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. Nike has a consensus rating of “Buy” and an average price target of $61.04.
In related news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the completion of the sale, the insider now directly owns 139,551 shares in the company, valued at $8,179,084.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,360 shares of company stock worth $28,485,174. Corporate insiders own 3.90% of the company’s stock.
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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