Wedge Capital Management L L P NC purchased a new position in shares of Nike Inc (NYSE:NKE) during the second quarter, HoldingsChannel.com reports. The fund purchased 2,803 shares of the footwear maker’s stock, valued at approximately $235,000.
Other hedge funds have also modified their holdings of the company. FMR LLC grew its holdings in shares of Nike by 27.0% during the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after buying an additional 4,908,916 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Nike by 40.8% in the second quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock valued at $275,583,000 after purchasing an additional 950,574 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Nike by 4.7% in the second quarter. Janus Henderson Group PLC now owns 11,145,233 shares of the footwear maker’s stock valued at $935,594,000 after purchasing an additional 504,108 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in Nike by 8,023.8% in the second quarter. Thoroughbred Financial Services LLC now owns 494,904 shares of the footwear maker’s stock valued at $49,490,000 after purchasing an additional 488,812 shares during the last quarter. Finally, AKO Capital LLP boosted its holdings in Nike by 31.5% in the first quarter. AKO Capital LLP now owns 1,957,855 shares of the footwear maker’s stock valued at $164,871,000 after purchasing an additional 469,131 shares during the last quarter. 66.41% of the stock is currently owned by institutional investors and hedge funds.
NKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Goldman Sachs Group set a $83.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research report on Monday, July 1st. Bank of America upgraded shares of Nike to an “underperform” rating and upped their price objective for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. Piper Jaffray Companies set a $97.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $96.00 price objective on shares of Nike in a research report on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $90.02.
Shares of NKE traded down $0.28 during mid-day trading on Tuesday, hitting $80.85. 147,160 shares of the company were exchanged, compared to its average volume of 6,145,842. Nike Inc has a 1-year low of $66.53 and a 1-year high of $90.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.39 and a current ratio of 2.10. The company has a 50 day moving average of $85.03 and a 200-day moving average of $84.59. The stock has a market cap of $125.79 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 2.13 and a beta of 0.78.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The company had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts anticipate that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.09%. Nike’s dividend payout ratio (DPR) is presently 35.34%.
In other Nike news, EVP John F. Slusher sold 110,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total value of $9,378,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Elliott Hill sold 3,228 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.07, for a total transaction of $281,061.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,637 shares of company stock valued at $16,767,237. Insiders own 3.80% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.