Axa grew its position in Nike Inc (NYSE:NKE) by 85.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 591,857 shares of the footwear maker’s stock after acquiring an additional 272,449 shares during the period. Axa’s holdings in Nike were worth $49,687,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of NKE. FMR LLC raised its position in shares of Nike by 27.0% in the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after acquiring an additional 4,908,916 shares during the period. Jennison Associates LLC increased its stake in shares of Nike by 13.6% during the second quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock worth $1,973,692,000 after purchasing an additional 2,809,878 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Nike by 40.8% during the second quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock worth $275,583,000 after purchasing an additional 950,574 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Nike by 151.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,087,961 shares of the footwear maker’s stock worth $91,253,000 after purchasing an additional 655,013 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Nike by 16.2% during the second quarter. Canada Pension Plan Investment Board now owns 4,415,575 shares of the footwear maker’s stock worth $370,688,000 after purchasing an additional 616,375 shares in the last quarter. Institutional investors and hedge funds own 65.09% of the company’s stock.
Shares of NYSE NKE opened at $87.67 on Friday. The company has a 50-day moving average of $83.77 and a 200 day moving average of $84.72. Nike Inc has a 12-month low of $66.53 and a 12-month high of $90.00. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. The stock has a market cap of $138.94 billion, a PE ratio of 35.21, a P/E/G ratio of 2.35 and a beta of 0.79.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts forecast that Nike Inc will post 2.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.00%. Nike’s dividend payout ratio is currently 35.34%.
In other news, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the transaction, the director now directly owns 38,813 shares in the company, valued at approximately $3,292,894.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 17,903 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $88.70, for a total transaction of $1,587,996.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,637 shares of company stock worth $16,767,237. Company insiders own 3.80% of the company’s stock.
A number of analysts have recently commented on NKE shares. Wedbush reissued an “outperform” rating and set a $96.00 target price on shares of Nike in a research note on Tuesday. Bank of America raised shares of Nike to an “underperform” rating and boosted their target price for the stock from $60.00 to $70.00 in a research note on Monday, June 24th. Morgan Stanley boosted their target price on shares of Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. UBS Group set a $87.00 target price on shares of Nike and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Pivotal Research set a $101.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $90.39.
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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