Segment Wealth Management LLC lifted its stake in shares of Nike Inc (NYSE:NKE) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,970 shares of the footwear maker’s stock after acquiring an additional 604 shares during the quarter. Segment Wealth Management LLC’s holdings in Nike were worth $5,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of NKE. Dimensional Fund Advisors LP raised its holdings in shares of Nike by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock worth $260,074,000 after purchasing an additional 69,032 shares during the period. Nordea Investment Management AB raised its holdings in shares of Nike by 38.3% during the fourth quarter. Nordea Investment Management AB now owns 1,757,962 shares of the footwear maker’s stock worth $130,336,000 after purchasing an additional 486,593 shares during the period. Bogart Wealth LLC raised its holdings in shares of Nike by 25.7% during the first quarter. Bogart Wealth LLC now owns 3,429 shares of the footwear maker’s stock worth $288,000 after purchasing an additional 702 shares during the period. Washington Trust Bank raised its holdings in shares of Nike by 1.7% during the first quarter. Washington Trust Bank now owns 27,754 shares of the footwear maker’s stock worth $2,337,000 after purchasing an additional 462 shares during the period. Finally, Addenda Capital Inc. raised its holdings in shares of Nike by 6.0% during the first quarter. Addenda Capital Inc. now owns 122,204 shares of the footwear maker’s stock worth $10,315,000 after purchasing an additional 6,909 shares during the period. Institutional investors own 65.68% of the company’s stock.
In related news, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the transaction, the director now owns 38,813 shares in the company, valued at approximately $3,292,894.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $9,378,600.00. The disclosure for this sale can be found here. Insiders sold a total of 194,637 shares of company stock valued at $16,767,237 in the last quarter. 3.80% of the stock is currently owned by insiders.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.04). The company had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Sell-side analysts forecast that Nike Inc will post 2.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.07%. Nike’s dividend payout ratio is presently 35.34%.
A number of analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $96.00 target price on shares of Nike in a report on Wednesday, June 19th. UBS Group set a $85.00 target price on shares of Nike and gave the stock a “neutral” rating in a report on Monday, June 17th. Pivotal Research set a $101.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Deutsche Bank set a $100.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $90.02.
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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