Scotia Capital Inc. Grows Stake in Nike, Inc. (NKE)

Scotia Capital Inc. lifted its position in Nike, Inc. (NYSE:NKE) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244,793 shares of the footwear maker’s stock after buying an additional 3,465 shares during the period. Scotia Capital Inc.’s holdings in Nike were worth $14,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in NKE. Clinton Group Inc. boosted its stake in shares of Nike by 464.2% in the 1st quarter. Clinton Group Inc. now owns 30,864 shares of the footwear maker’s stock worth $1,720,000 after buying an additional 25,394 shares during the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Nike by 77.0% in the 1st quarter. Atlantic Trust Group LLC now owns 530,281 shares of the footwear maker’s stock worth $29,553,000 after buying an additional 230,715 shares during the last quarter. Spinnaker Trust boosted its stake in shares of Nike by 1.0% in the 1st quarter. Spinnaker Trust now owns 48,486 shares of the footwear maker’s stock worth $2,702,000 after buying an additional 468 shares during the last quarter. Sandy Spring Bank boosted its stake in shares of Nike by 15.3% in the 1st quarter. Sandy Spring Bank now owns 136,819 shares of the footwear maker’s stock worth $7,625,000 after buying an additional 18,203 shares during the last quarter. Finally, Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Nike by 162.2% in the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 204,376 shares of the footwear maker’s stock worth $11,390,000 after buying an additional 126,417 shares during the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.

Shares of Nike, Inc. (NYSE:NKE) traded down $0.54 during trading hours on Monday, hitting $59.88. The company’s stock had a trading volume of 10,113,600 shares, compared to its average volume of 9,598,477. Nike, Inc. has a fifty-two week low of $50.11 and a fifty-two week high of $61.21. The stock has a market capitalization of $97,695.23, a price-to-earnings ratio of 25.48, a PEG ratio of 2.81 and a beta of 0.64. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. analysts expect that Nike, Inc. will post 2.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. Nike’s payout ratio is 30.64%.

In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction that occurred on 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 $1,371,527. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction that occurred on 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. 3.90% of the stock is owned by insiders.

A number of equities analysts recently commented on NKE shares. Jefferies Group set a $75.00 target price on Nike and gave the stock a “buy” rating in a report on Tuesday, August 15th. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price on the stock. in a report on Monday, September 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $66.00 target price on shares of Nike in a report on Thursday, August 24th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $58.00 target price (down from $63.00) on shares of Nike in a report on Monday, August 21st. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $64.00 target price (down from $68.00) on shares of Nike in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nineteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $59.01.

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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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