Sei Investments Co. increased its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 32.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392,782 shares of the footwear maker’s stock after buying an additional 345,150 shares during the quarter. Sei Investments Co. owned about 0.09% of NIKE worth $153,720,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Korea Investment CORP grew its position in NIKE by 10.6% during the second quarter. Korea Investment CORP now owns 1,053,835 shares of the footwear maker’s stock worth $116,312,000 after buying an additional 100,822 shares in the last quarter. Magellan Asset Management Ltd grew its position in NIKE by 6.3% during the second quarter. Magellan Asset Management Ltd now owns 5,630 shares of the footwear maker’s stock worth $621,000 after buying an additional 335 shares in the last quarter. Deuterium Capital Management LLC acquired a new stake in NIKE during the second quarter worth approximately $209,000. Employees Retirement System of Texas acquired a new stake in shares of NIKE in the 2nd quarter valued at $3,534,000. Finally, Elgethun Capital Management acquired a new stake in shares of NIKE in the 2nd quarter valued at $112,000. Institutional investors and hedge funds own 63.42% of the company’s stock.
Insiders Place Their Bets
In other NIKE news, Director Robert Holmes Swan bought 13,072 shares of NIKE stock in a transaction dated Monday, October 2nd. The stock was bought at an average cost of $96.13 per share, with a total value of $1,256,611.36. Following the completion of the acquisition, the director now directly owns 18,005 shares in the company, valued at approximately $1,730,820.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Mark G. Parker sold 58,091 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $99.60, for a total value of $5,785,863.60. Following the completion of the transaction, the chairman now directly owns 1,255,600 shares of the company’s stock, valued at $125,057,760. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 13,072 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was purchased at an average price of $96.13 per share, for a total transaction of $1,256,611.36. Following the purchase, the director now owns 18,005 shares of the company’s stock, valued at approximately $1,730,820.65. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.
NIKE Stock Down 0.3 %
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Thursday, September 28th. The footwear maker reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.20. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13 billion. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. As a group, analysts expect that NIKE, Inc. will post 3.74 EPS for the current year.
NIKE Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be issued a dividend of $0.37 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, December 1st. NIKE’s payout ratio is currently 41.98%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on NKE shares. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $128.00 target price on shares of NIKE in a report on Friday, September 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $126.00 target price on shares of NIKE in a report on Friday, September 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $113.00 price target on shares of NIKE in a research note on Friday, October 6th. StockNews.com began coverage on NIKE in a report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on NIKE from $122.00 to $125.00 and gave the company a “buy” rating in a report on Friday, September 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price of $122.03.
NIKE Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.
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