BB&T Investment Services Inc. Takes Position in Nike, Inc. (NKE)

BB&T Investment Services Inc. bought a new stake in Nike, Inc. (NYSE:NKE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 27,554 shares of the footwear maker’s stock, valued at approximately $1,619,000.

Several other hedge funds have also modified their holdings of NKE. Asset Planning Services Ltd. boosted its holdings in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares in the last quarter. Stearns Financial Services Group boosted its holdings in shares of Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock valued at $245,000 after acquiring an additional 17 shares in the last quarter. Accredited Investors Inc. boosted its holdings in shares of Nike by 0.5% during the 1st quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after acquiring an additional 19 shares in the last quarter. Smith Shellnut Wilson LLC ADV boosted its holdings in shares of Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock valued at $822,000 after acquiring an additional 41 shares in the last quarter. Finally, Buckingham Asset Management LLC boosted its holdings in shares of Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock valued at $401,000 after acquiring an additional 45 shares in the last quarter. 62.78% 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 Nike stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.

Several equities research analysts recently weighed in on NKE shares. Jefferies Group set a $75.00 price objective on Nike and gave the company a “buy” rating in a report on Tuesday, August 15th. BidaskClub downgraded Nike from a “hold” rating to a “sell” rating in a report on Saturday, August 19th. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $59.74 price objective on the stock in a report on Monday, August 21st. Goldman Sachs Group reissued a “buy” rating and set a $58.00 price objective (down previously from $63.00) on shares of Nike in a report on Monday, August 21st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $66.00 price objective on shares of Nike in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and nineteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.01.

Nike, Inc. (NKE) traded up $0.22 during mid-day trading on Tuesday, hitting $60.10. The stock had a trading volume of 7,513,200 shares, compared to its average volume of 9,589,526. Nike, Inc. has a 1 year low of $50.26 and a 1 year high of $61.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The company has a market cap of $97,695.23, a price-to-earnings ratio of 25.48, a PEG ratio of 2.81 and a beta of 0.64.

Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. equities analysts forecast that Nike, Inc. will post 2.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.33%. Nike’s dividend payout ratio (DPR) is currently 34.04%.

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About Nike

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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