Northwestern Mutual Investment Management Company LLC increased its position in shares of Nike, Inc. (NYSE:NKE) by 74.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 267,883 shares of the footwear maker’s stock after buying an additional 114,450 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Nike were worth $14,929,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Nike during the fourth quarter worth approximately $10,508,000. Webster Bank N. A. boosted its position 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 valued at $117,000 after buying an additional 900 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Nike during the first quarter valued at about $117,000. Gierl Augustine Investment Management Inc boosted its position 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 valued at $118,000 after buying an additional 107 shares during the period. Finally, Asset Planning Services Ltd. bought a new position in shares of Nike during the first quarter valued at about $118,000. Hedge funds and other institutional investors own 63.47% of the company’s stock.
Nike, Inc. (NKE) traded down 4.37% during midday trading on Friday, hitting $54.95. 22,905,183 shares of the stock were exchanged. The stock has a market cap of $90.29 billion, a price-to-earnings ratio of 21.89 and a beta of 0.59. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The firm’s 50-day moving average is $58.64 and its 200 day moving average is $55.77. Nike also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 14,365 call options on the stock. This represents an increase of approximately 228% compared to the average daily volume of 4,379 call options.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during 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%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. Equities research analysts expect that Nike, Inc. will post $2.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is presently 28.69%.
A number of equities analysts recently weighed in on the company. Piper Jaffray Companies set a $50.00 price target on Nike and gave the stock 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 cut Nike from a “buy” rating to a “hold” rating and set a $54.16 price target for the company. in a report on Monday, June 5th. Robert W. Baird reiterated an “outperform” rating and set 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 set a $56.00 price objective on shares of Nike in a research note on Wednesday, June 7th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $61.04.
In other news, CAO Hilary K. Krane sold 28,072 shares of Nike stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the completion of the sale, the chief accounting officer now owns 177,723 shares in the company, valued at approximately $10,325,706.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now owns 729,610 shares of the company’s stock, valued at approximately $42,047,424.30. 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 in the last 90 days. 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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