Jupiter Wealth Management LLC lessened its position in shares of Nike Inc (NYSE:NKE) by 0.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 102,463 shares of the footwear maker’s stock after selling 554 shares during the quarter. Nike makes up approximately 4.4% of Jupiter Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Jupiter Wealth Management LLC’s holdings in Nike were worth $8,966,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. acquired a new stake in Nike during the 1st quarter valued at approximately $25,000. Shamrock Asset Management LLC acquired a new stake in Nike during the 1st quarter valued at approximately $25,000. Thor Advisors LLC acquired a new stake in Nike during the 1st quarter valued at approximately $26,000. Mackey Komara & Dankovich LLC acquired a new stake in Nike during the 1st quarter valued at approximately $30,000. Finally, Hexavest Inc. acquired a new stake in Nike during the 2nd quarter valued at approximately $30,000. 66.15% of the stock is owned by institutional investors and hedge funds.
In related news, EVP John F. Slusher sold 110,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total value of $9,378,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the transaction, the director now owns 38,813 shares in the company, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 194,637 shares of company stock worth $16,767,237. 3.80% of the stock is owned by company insiders.
Nike (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The firm had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. Nike’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts forecast that Nike Inc will post 2.9 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s dividend payout ratio is currently 35.34%.
A number of analysts have weighed in on the stock. Stifel Nicolaus set a $96.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley increased their target price on shares of Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Deutsche Bank set a $100.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Pivotal Research set a $101.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Bank of America raised shares of Nike to an “underperform” rating and raised their price objective for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $90.02.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
Further Reading: Using the New Google Finance Tool
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.