Train Babcock Advisors LLC Has $5.95 Million Stake in Nike, Inc. (NKE)

Train Babcock Advisors LLC cut its holdings in shares of Nike, Inc. (NYSE:NKE) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,912 shares of the footwear maker’s stock after selling 2,759 shares during the period. Nike accounts for 2.6% of Train Babcock Advisors LLC’s portfolio, making the stock its 9th biggest position. Train Babcock Advisors LLC’s holdings in Nike were worth $5,954,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Waldron LP boosted its holdings in Nike by 90.8% in the first quarter. Waldron LP now owns 8,922 shares of the footwear maker’s stock worth $496,000 after acquiring an additional 4,246 shares in the last quarter. Wealth Architects LLC raised its stake in shares of Nike by 8.1% in the first quarter. Wealth Architects LLC now owns 23,161 shares of the footwear maker’s stock worth $1,291,000 after purchasing an additional 1,728 shares during the last quarter. Eagle Ridge Investment Management raised its stake in shares of Nike by 9.3% in the first quarter. Eagle Ridge Investment Management now owns 126,975 shares of the footwear maker’s stock worth $7,076,000 after purchasing an additional 10,820 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Nike by 1.7% in the first quarter. Rhumbline Advisers now owns 2,259,668 shares of the footwear maker’s stock worth $125,931,000 after purchasing an additional 37,670 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Nike by 443.2% in the first quarter. First Trust Advisors LP now owns 269,270 shares of the footwear maker’s stock worth $15,006,000 after purchasing an additional 219,697 shares during the last quarter. 62.51% of the stock is currently owned by hedge funds and other institutional investors.

In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is currently owned by corporate insiders.

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A number of brokerages have commented on NKE. Stifel Nicolaus set a $66.00 price target on Nike and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price target on Nike and gave the company a “hold” rating in a research note on Saturday, July 22nd. Guggenheim reissued a “buy” rating and set a $70.00 price target on shares of Nike in a research note on Monday, July 24th. Cowen and Company set a $54.00 price target on Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Wells Fargo & Company set a $56.00 price objective on Nike and gave the company a “hold” rating in a research note on Saturday, July 1st. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.90.

Nike, Inc. (NYSE NKE) opened at 56.81 on Friday. The firm has a 50 day moving average of $52.64 and a 200-day moving average of $54.66. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The firm has a market cap of $92.69 billion, a price-to-earnings ratio of 24.18 and a beta of 0.61.

Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.73 EPS. Equities research analysts forecast that Nike, Inc. will post $2.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.27%. Nike’s dividend payout ratio is presently 30.64%.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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