Donaldson Capital Management LLC reduced its stake in Nike, Inc. (NYSE:NKE) by 4.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,130 shares of the footwear maker’s stock after selling 3,137 shares during the period. Donaldson Capital Management LLC’s holdings in Nike were worth $3,784,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Trillium Asset Management LLC raised its holdings in Nike by 78.5% in the 2nd quarter. Trillium Asset Management LLC now owns 252,348 shares of the footwear maker’s stock valued at $14,888,000 after buying an additional 110,937 shares during the period. Rational Advisors LLC raised its holdings in Nike by 334.4% in the 2nd quarter. Rational Advisors LLC now owns 11,172 shares of the footwear maker’s stock valued at $659,000 after buying an additional 8,600 shares during the period. Pinnacle Financial Partners Inc. raised its holdings in Nike by 2.2% in the 2nd quarter. Pinnacle Financial Partners Inc. now owns 18,302 shares of the footwear maker’s stock valued at $1,080,000 after buying an additional 397 shares during the period. Bourgeon Capital Management LLC raised its holdings in Nike by 0.9% in the 2nd quarter. Bourgeon Capital Management LLC now owns 56,733 shares of the footwear maker’s stock valued at $3,347,000 after buying an additional 480 shares during the period. Finally, 440 Investment Group LLC raised its holdings in Nike by 1.5% in the 2nd quarter. 440 Investment Group LLC now owns 10,025 shares of the footwear maker’s stock valued at $592,000 after buying an additional 150 shares during the period. Hedge funds and other institutional investors own 62.63% of the company’s stock.
Several analysts recently issued reports on the stock. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a report on Saturday, July 22nd. Guggenheim restated a “buy” rating and issued a $70.00 price objective on shares of Nike in a report on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a report on Friday, August 4th. Finally, Barclays PLC restated an “overweight” rating and issued a $65.00 price objective on shares of Nike in a report on Friday, June 30th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $59.14.
In other news, insider Eric D. Sprunk sold 112,323 shares of the business’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 sale, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s 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 sale, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. Insiders sold a total of 134,045 shares of company stock worth $7,778,338 in the last three months. Company insiders own 3.90% of the company’s stock.
Nike, Inc. (NYSE:NKE) opened at 50.83 on Friday. The stock has a market cap of $83.32 billion, a PE ratio of 21.64 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 firm has a 50-day moving average price of $52.76 and a 200 day moving average price of $54.86.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for 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 revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. Equities analysts anticipate that Nike, Inc. will post $2.32 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, August 31st. Nike’s dividend payout ratio is presently 30.64%.
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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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