United Services Automobile Association lessened its position in Nike, Inc. (NYSE:NKE) by 5.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 677,249 shares of the footwear maker’s stock after selling 42,031 shares during the quarter. United Services Automobile Association’s holdings in Nike were worth $37,743,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Accredited Investors Inc. boosted its holdings in shares of 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 during the period. Montecito Bank & Trust raised its stake in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares in the last quarter. Intrust Bank NA raised its stake in Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares in the last quarter. Welch & Forbes LLC raised its stake in Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in 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 worth $543,000 after buying an additional 50 shares in the last quarter. 62.72% of the stock is currently owned by institutional investors and hedge funds.
In other Nike news, CFO Andrew Campion sold 96,243 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total value of $5,455,053.24. Following the transaction, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 139,551 shares in the company, valued at $8,179,084.11. The disclosure for this sale can be found here. Insiders sold a total of 492,360 shares of company stock worth $28,485,174 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.
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Nike, Inc. (NKE) opened at 52.20 on Monday. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $60.53. The company’s 50 day moving average is $56.66 and its 200 day moving average is $55.62. The company has a market cap of $85.77 billion, a price-to-earnings ratio of 20.80 and a beta of 0.61.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $8.68 billion for 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.49 EPS. Equities research analysts forecast that Nike, Inc. will post $2.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be issued a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.38%. Nike’s payout ratio is 28.69%.
A number of research firms recently issued reports on NKE. Robert W. Baird reissued a “buy” rating and issued a $65.00 price target on shares of Nike in a research note on Sunday. Vetr raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 target price for the company in a research note on Wednesday, September 6th. Telsey Advisory Group decreased their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Morgan Stanley reaffirmed a “buy” rating and set a $64.00 target price (down previously from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Finally, Jefferies Group LLC downgraded shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $60.43.
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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