Signature Estate & Investment Advisors LLC raised its holdings in Nike Inc (NYSE:NKE) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,991 shares of the footwear maker’s stock after purchasing an additional 2,341 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Nike were worth $4,365,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. HCR Wealth Advisors boosted its holdings in shares of Nike by 1.8% in the 2nd quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock valued at $1,174,000 after purchasing an additional 250 shares in the last quarter. FMR LLC boosted its holdings in shares of Nike by 27.0% in the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after purchasing an additional 4,908,916 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Nike by 0.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 505,176 shares of the footwear maker’s stock valued at $42,541,000 after purchasing an additional 2,100 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Nike by 0.9% in the 1st quarter. Rhumbline Advisers now owns 2,227,033 shares of the footwear maker’s stock valued at $187,538,000 after purchasing an additional 19,393 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Nike by 6.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 285,378 shares of the footwear maker’s stock valued at $24,032,000 after purchasing an additional 18,245 shares in the last quarter. 66.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NKE stock traded down $1.05 during mid-day trading on Thursday, hitting $79.98. The company’s stock had a trading volume of 323,457 shares, compared to its average volume of 5,893,333. The stock’s fifty day simple moving average is $85.35. Nike Inc has a 52 week low of $66.53 and a 52 week high of $90.00. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The company has a market cap of $127.94 billion, a P/E ratio of 31.98, a PEG ratio of 2.16 and a beta of 0.78.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.10%. Nike’s dividend payout ratio is presently 35.34%.
Several equities research analysts recently weighed in on the company. Bank of America raised Nike to an “underperform” rating and raised their price objective for the company from $60.00 to $70.00 in a report on Monday, June 24th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a report on Monday, May 27th. Macquarie set a $89.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, June 28th. Pivotal Research set a $101.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Piper Jaffray Companies set a $97.00 price objective on Nike and gave the company a “buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and an average target price of $90.02.
In other news, insider Elliott Hill sold 34,100 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total value of $3,012,394.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the firm’s 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 sale, the director now owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,637 shares of company stock valued at $16,767,237. 3.80% of the stock is currently owned by company insiders.
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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