Rampart Investment Management Company LLC trimmed its position in shares of Nike Inc (NYSE:NKE) by 9.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 98,246 shares of the footwear maker’s stock after selling 10,184 shares during the period. Nike accounts for approximately 1.0% of Rampart Investment Management Company LLC’s investment portfolio, making the stock its 8th biggest holding. Rampart Investment Management Company LLC’s holdings in Nike were worth $8,248,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Nike by 2.2% in the 2nd quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after purchasing an additional 1,883,150 shares during the last quarter. Jennison Associates LLC increased its position in Nike by 13.6% in the 2nd quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock worth $1,973,692,000 after buying an additional 2,809,878 shares during the period. FMR LLC increased its position in Nike by 27.0% in the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after buying an additional 4,908,916 shares during the period. Northern Trust Corp increased its position in Nike by 0.4% in the 2nd quarter. Northern Trust Corp now owns 21,011,376 shares of the footwear maker’s stock worth $1,763,905,000 after buying an additional 73,514 shares during the period. Finally, Edgewood Management LLC increased its position in Nike by 1.1% in the 2nd quarter. Edgewood Management LLC now owns 16,990,039 shares of the footwear maker’s stock worth $1,426,314,000 after buying an additional 183,581 shares during the period. Institutional investors and hedge funds own 65.04% of the company’s stock.
In other news, EVP John F. Slusher sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total transaction of $9,378,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John C. Lechleiter sold 5,406 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $87.13, for a total value of $471,024.78. Following the completion of the sale, the director now owns 68,457 shares in the company, valued at $5,964,658.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 203,708 shares of company stock worth $17,556,051. 3.80% of the stock is currently owned by company insiders.
NKE has been the topic of several recent analyst reports. Piper Jaffray Companies set a $97.00 price target on Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating and set a $95.00 price target on the stock in a research report on Monday, May 27th. Bank of America raised Nike to an “underperform” rating and lifted their price target for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. Morgan Stanley lifted their price target on Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Stifel Nicolaus set a $96.00 price target on Nike and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One 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. Nike has a consensus rating of “Buy” and an average target price of $90.39.
Shares of NKE traded down $0.22 on Monday, reaching $87.10. 267,248 shares of the stock traded hands, compared to its average volume of 5,113,395. The firm has a market cap of $137.37 billion, a price-to-earnings ratio of 34.98, a P/E/G ratio of 2.33 and a beta of 0.79. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00. The stock’s 50-day moving average price is $83.80 and its 200-day moving average price is $84.73.
Nike (NYSE:NKE) last released its quarterly earnings data 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). The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, equities research analysts forecast that Nike Inc will post 2.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, August 30th. Nike’s dividend payout ratio is presently 35.34%.
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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