CQS Cayman LP Buys Shares of 54,585 Nike Inc (NYSE:NKE)

CQS Cayman LP bought a new stake in Nike Inc (NYSE:NKE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,585 shares of the footwear maker’s stock, valued at approximately $4,582,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trustcore Financial Services LLC boosted its stake in shares of Nike by 2.9% during the 2nd quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock worth $358,000 after acquiring an additional 120 shares in the last quarter. Merriman Wealth Management LLC boosted its stake in Nike by 1.0% during the 2nd quarter. Merriman Wealth Management LLC now owns 12,337 shares of the footwear maker’s stock valued at $1,054,000 after purchasing an additional 126 shares during the period. Midwest Professional Planners LTD. boosted its stake in Nike by 1.0% during the 1st quarter. Midwest Professional Planners LTD. now owns 12,794 shares of the footwear maker’s stock valued at $1,077,000 after purchasing an additional 127 shares during the period. First Personal Financial Services boosted its stake in Nike by 14.9% during the 2nd quarter. First Personal Financial Services now owns 992 shares of the footwear maker’s stock valued at $83,000 after purchasing an additional 129 shares during the period. Finally, National Asset Management Inc. boosted its stake in Nike by 0.9% during the 1st quarter. National Asset Management Inc. now owns 14,637 shares of the footwear maker’s stock valued at $1,234,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 65.09% of the company’s stock.

In other news, Director Elizabeth J. Comstock sold 24,000 shares of the 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 transaction, the director now directly owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total value of $9,378,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 203,708 shares of company stock valued at $17,556,051. 3.80% of the stock is currently owned by insiders.

Several brokerages recently weighed in on NKE. UBS Group set a $87.00 target price on Nike and gave the company a “neutral” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Deutsche Bank set a $100.00 target price on Nike and gave the company a “buy” rating in a research note on Wednesday, July 10th. Pivotal Research set a $101.00 target price on Nike and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Guggenheim restated a “buy” rating and set a $100.00 target price on shares of Nike in a research note on Friday, August 23rd. One investment 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. The company has an average rating of “Buy” and a consensus target price of $90.39.

Shares of NKE traded down $0.35 during mid-day trading on Friday, reaching $87.32. The company had a trading volume of 4,473,439 shares, compared to its average volume of 5,246,204. Nike Inc has a twelve month low of $66.53 and a twelve month high of $90.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. The company’s 50-day moving average is $83.80 and its 200-day moving average is $84.73. The company has a market capitalization of $135.93 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.30 and a beta of 0.79.

Nike (NYSE:NKE) last issued 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). Nike had a return on equity of 45.12% and a net margin of 10.30%. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts expect 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. Stockholders of record on Tuesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. Nike’s payout ratio is presently 35.34%.

About Nike

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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