Profund Advisors LLC lifted its position in shares of Nike Inc (NYSE:NKE) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,713 shares of the footwear maker’s stock after purchasing an additional 2,489 shares during the quarter. Profund Advisors LLC’s holdings in Nike were worth $2,578,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. bought a new position in shares of Nike during the first quarter worth $25,000. Shamrock Asset Management LLC bought a new position in shares of Nike during the first quarter worth $25,000. Thor Advisors LLC bought a new position in shares of Nike during the first quarter worth $26,000. Mackey Komara & Dankovich LLC bought a new position in shares of Nike during the first quarter worth $30,000. Finally, Hexavest Inc. bought a new position in shares of Nike during the second quarter worth $30,000. 65.09% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on NKE. Bank of America raised shares of Nike to an “underperform” rating and lifted their price target for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. Goldman Sachs Group set a $83.00 price objective on shares of Nike and gave the company a “neutral” rating in a research report on Monday, July 1st. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a research report on Monday, May 27th. Pivotal Research set a $101.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $96.00 price objective on shares of Nike in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. Nike presently has an average rating of “Buy” and a consensus price target of $90.39.
In other news, insider Elliott Hill sold 34,100 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the transaction, the director now owns 38,813 shares in the company, valued at $3,292,894.92. The disclosure for this sale can be found here. Insiders sold a total of 194,637 shares of company stock worth $16,767,237 over the last quarter. Company insiders own 3.80% of the company’s stock.
NKE stock remained flat at $$87.67 during midday trading on Friday. 2,029,556 shares of the company’s stock traded hands, compared to its average volume of 5,378,353. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00. The business has a fifty day moving average price of $83.77 and a two-hundred day moving average price of $84.72. The firm has a market cap of $136.05 billion, a PE ratio of 35.21, a P/E/G ratio of 2.30 and a beta of 0.79.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The business had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a yield of 1.00%. Nike’s payout ratio is currently 35.34%.
Nike Company Profile
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.
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