Institute for Wealth Management LLC. Boosts Stock Holdings in Nike Inc (NYSE:NKE)

Institute for Wealth Management LLC. grew its position in shares of Nike Inc (NYSE:NKE) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,128 shares of the footwear maker’s stock after acquiring an additional 404 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Nike were worth $1,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its stake in shares of Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after purchasing an additional 4,908,916 shares during the period. Janus Henderson Group PLC raised its stake in shares of Nike by 4.7% during the 2nd quarter. Janus Henderson Group PLC now owns 11,145,233 shares of the footwear maker’s stock worth $935,594,000 after purchasing an additional 504,108 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Nike by 2.0% during the 4th 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. Bessemer Group Inc. raised its stake in shares of Nike by 40.8% during the 2nd 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. Finally, Bank of Montreal Can raised its stake in shares of Nike by 10.5% during the 1st quarter. Bank of Montreal Can now owns 3,201,840 shares of the footwear maker’s stock worth $269,624,000 after purchasing an additional 305,552 shares during the period. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on NKE shares. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a research note on Monday, May 27th. UBS Group set a $85.00 target price on Nike and gave the stock a “neutral” rating in a research note on Monday, June 17th. Piper Jaffray Companies set a $97.00 target price on Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. Bank of America upgraded Nike to an “underperform” rating and lifted their target price for the stock from $60.00 to $70.00 in a research note on Monday, June 24th. Finally, Deutsche Bank set a $100.00 price objective on Nike and gave the company a “buy” rating in a research note 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 given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $90.02.

Shares of NKE traded up $0.77 during midday trading on Friday, hitting $80.28. 5,522,800 shares of the company traded hands, compared to its average volume of 6,195,173. The stock has a 50-day moving average of $85.23 and a 200-day moving average of $84.66. Nike Inc has a one year low of $66.53 and a one year high of $90.00. The firm has a market cap of $124.58 billion, a P/E ratio of 32.24, a PEG ratio of 2.11 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Nike Inc will post 2.9 EPS for the current fiscal year.

The firm 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Friday, August 30th. Nike’s payout ratio is 35.34%.

In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Hilary K. Krane sold 17,903 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $88.70, for a total value of $1,587,996.10. The disclosure for this sale can be found here. Insiders have sold 194,637 shares of company stock valued at $16,767,237 in the last three months. 3.80% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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