IHT Wealth Management LLC grew its position in shares of Nike, Inc. (NYSE:NKE) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,346 shares of the footwear maker’s stock after purchasing an additional 229 shares during the period. IHT Wealth Management LLC’s holdings in Nike were worth $459,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Accredited Investors Inc. lifted its stake in Nike by 0.5% during the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after purchasing an additional 19 shares in the last quarter. Montecito Bank & Trust raised its stake in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after acquiring an additional 24 shares in the last quarter. Intrust Bank NA raised its stake in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after acquiring an additional 46 shares in the last quarter. Welch & Forbes LLC raised its stake in shares of Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after acquiring an additional 48 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 62.72% of the company’s stock.
NKE has been the topic of several analyst reports. Berenberg Bank reiterated a “buy” rating and issued a $70.00 price objective on shares of Nike in a research note on Wednesday, June 14th. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price objective on the stock in a research note on Thursday, June 15th. Instinet reiterated a “buy” rating on shares of Nike in a research note on Monday, May 15th. Nomura reiterated a “buy” rating on shares of Nike in a research note on Monday, May 15th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 price objective on shares of Nike in a research note on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $60.66.
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Shares of Nike, Inc. (NYSE NKE) traded up 1.3685% during mid-day trading on Tuesday, hitting $53.7557. 4,271,321 shares of the stock traded hands. The company has a market cap of $88.33 billion, a price-to-earnings ratio of 21.4166 and a beta of 0.61. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53. The stock has a 50-day moving average of $56.57 and a 200-day moving average of $55.58.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned $0.49 EPS. Analysts anticipate that Nike, Inc. will post $2.41 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, August 31st. Nike’s payout ratio is 28.69%.
In related news, insider Eric D. Sprunk sold 50,000 shares of Nike 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 completion of the transaction, the insider now directly owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of Nike 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 transaction, the insider now directly owns 139,551 shares of the company’s stock, valued at $8,179,084.11. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 over the last ninety days. 3.90% of the stock is owned by insiders.
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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