Harfst & Associates Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,815 shares of the footwear maker’s stock after purchasing an additional 526 shares during the period. Harfst & Associates Inc.’s holdings in NIKE were worth $1,670,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Baxter Bros Inc. boosted its stake in NIKE by 1.2% during the 2nd quarter. Baxter Bros Inc. now owns 5,572 shares of the footwear maker’s stock worth $861,000 after purchasing an additional 65 shares during the period. Nicolet Bankshares Inc. lifted its stake in shares of NIKE by 1.5% in the 2nd quarter. Nicolet Bankshares Inc. now owns 7,695 shares of the footwear maker’s stock worth $1,189,000 after acquiring an additional 117 shares during the period. Equitable Holdings Inc. lifted its stake in shares of NIKE by 109.8% in the 2nd quarter. Equitable Holdings Inc. now owns 38,941 shares of the footwear maker’s stock worth $6,016,000 after acquiring an additional 20,382 shares during the period. Moseley Investment Management Inc. lifted its stake in shares of NIKE by 38.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 3,105 shares of the footwear maker’s stock worth $480,000 after acquiring an additional 867 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of NIKE by 16.1% in the 2nd quarter. Deutsche Bank AG now owns 4,271,593 shares of the footwear maker’s stock worth $659,919,000 after acquiring an additional 590,919 shares during the period. Hedge funds and other institutional investors own 64.45% of the company’s stock.
NKE has been the subject of several recent analyst reports. Bank of America raised their target price on shares of NIKE from $150.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, June 25th. Cowen raised their target price on shares of NIKE from $145.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, June 25th. They noted that the move was a valuation call. Guggenheim raised their price objective on shares of NIKE from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, June 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $213.00 price objective on shares of NIKE in a research note on Friday. Finally, Royal Bank of Canada raised their price objective on shares of NIKE from $165.00 to $183.00 and gave the company an “outperform” rating in a research note on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $173.03.
NIKE (NYSE:NKE) last released its earnings results on Wednesday, June 23rd. The footwear maker reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.42. NIKE had a net margin of 12.86% and a return on equity of 51.41%. The business had revenue of $12.30 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the company earned ($0.51) earnings per share. The company’s quarterly revenue was up 94.8% on a year-over-year basis. On average, analysts anticipate that NIKE, Inc. will post 4.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, August 30th will be given a $0.275 dividend. The ex-dividend date of this dividend is Friday, August 27th. This represents a $1.10 annualized dividend and a dividend yield of 0.71%. NIKE’s dividend payout ratio is presently 30.90%.
In related news, CFO Matthew Friend sold 3,546 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total value of $608,139.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew Campion sold 7,125 shares of NIKE stock in a transaction that occurred on Thursday, August 5th. The shares were sold at an average price of $171.50, for a total transaction of $1,221,937.50. The disclosure for this sale can be found here. Insiders sold 379,671 shares of company stock worth $60,634,427 over the last three months. Corporate insiders own 3.70% of the company’s stock.
NIKE Company Profile
NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America; Europe, Middle East & Africa; Greater China; Asia Pacific & Latin America; Global Brand Divisions; Converse; and Corporate.
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