Triodos Investment Management BV decreased its position in Nike Inc (NYSE:NKE) by 11.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,000 shares of the footwear maker’s stock after selling 22,900 shares during the quarter. Nike comprises 3.3% of Triodos Investment Management BV’s investment portfolio, making the stock its 14th largest holding. Triodos Investment Management BV’s holdings in Nike were worth $14,355,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in Nike by 27.0% in 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 period. Bessemer Group Inc. raised its position in shares of Nike by 40.8% during the second quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock worth $275,583,000 after purchasing an additional 950,574 shares during the period. Thoroughbred Financial Services LLC raised its position in shares of Nike by 8,023.8% during the second quarter. Thoroughbred Financial Services LLC now owns 494,904 shares of the footwear maker’s stock worth $49,490,000 after purchasing an additional 488,812 shares during the period. Nordea Investment Management AB raised its position 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. Finally, AKO Capital LLP raised its position in shares of Nike by 31.5% during the first quarter. AKO Capital LLP now owns 1,957,855 shares of the footwear maker’s stock worth $164,871,000 after purchasing an additional 469,131 shares during the period. 65.68% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. Bank of America raised Nike to an “underperform” rating and raised their price target for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. JPMorgan Chase & Co. boosted their price objective on 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 target price on Nike and gave the company a “neutral” rating in a research report on Monday, July 1st. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a research note on Monday, May 27th. Finally, Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. Nike has an average rating of “Buy” and an average price target of $90.02.
Nike (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Nike Inc will post 2.9 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.07%. Nike’s dividend payout ratio is currently 35.34%.
In related news, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 38,813 shares in the company, valued at approximately $3,292,894.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Elliott Hill sold 34,100 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $88.34, for a total transaction of $3,012,394.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 194,637 shares of company stock worth $16,767,237. Company insiders own 3.80% of the company’s stock.
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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