Connors Investor Services Inc. lifted its holdings in Nike Inc (NYSE:NKE) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 159,591 shares of the footwear maker’s stock after purchasing an additional 3,370 shares during the period. Nike accounts for approximately 1.8% of Connors Investor Services Inc.’s portfolio, making the stock its 18th biggest holding. Connors Investor Services Inc.’s holdings in Nike were worth $13,398,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. MV Capital Management Inc. grew its position in shares of Nike by 3.7% during the first quarter. MV Capital Management Inc. now owns 11,381 shares of the footwear maker’s stock worth $958,000 after buying an additional 407 shares in the last quarter. German American Bancorp Inc. grew its position in shares of Nike by 2.8% during the first quarter. German American Bancorp Inc. now owns 58,202 shares of the footwear maker’s stock worth $4,901,000 after buying an additional 1,600 shares in the last quarter. Comerica Bank grew its position in shares of Nike by 9.9% during the first quarter. Comerica Bank now owns 506,286 shares of the footwear maker’s stock worth $42,973,000 after buying an additional 45,551 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new position in shares of Nike during the first quarter worth about $30,000. Finally, Hall Laurie J Trustee grew its position in shares of Nike by 1.9% during the first quarter. Hall Laurie J Trustee now owns 26,275 shares of the footwear maker’s stock worth $2,212,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 65.04% of the company’s stock.
A number of equities analysts have recently commented on NKE shares. Piper Jaffray Companies set a $97.00 price objective on Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Deutsche Bank set a $100.00 price objective on Nike and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus set a $96.00 price objective on Nike and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Morgan Stanley boosted their price objective on Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $90.39.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The firm had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the prior year, the firm posted $0.69 EPS. Nike’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Nike Inc will post 2.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, August 30th. Nike’s dividend payout ratio is currently 35.34%.
In other news, insider Elliott Hill sold 2,770 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total value of $240,879.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $85.26, for a total value of $9,378,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 203,708 shares of company stock valued at $17,556,051. 3.80% of the stock is owned by company insiders.
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.
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