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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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.
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