Mackay Shields LLC reduced its stake in NIKE, Inc. (NYSE:NKE) by 30.3% during the 2nd quarter, Holdings Channel reports. The fund owned 200,418 shares of the footwear maker’s stock after selling 87,239 shares during the period. Mackay Shields LLC’s holdings in NIKE were worth $30,962,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of NKE. FFT Wealth Management LLC acquired a new stake in shares of NIKE during the 2nd quarter worth about $26,000. Princeton Global Asset Management LLC boosted its stake in shares of NIKE by 39.8% during the 2nd quarter. Princeton Global Asset Management LLC now owns 246 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 70 shares during the last quarter. Rockbridge Investment Management LCC boosted its stake in shares of NIKE by 43.9% during the 2nd quarter. Rockbridge Investment Management LCC now owns 246 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 75 shares during the last quarter. Financial Insights Inc. acquired a new stake in shares of NIKE during the 2nd quarter worth about $38,000. Finally, Baldrige Asset Management LLC acquired a new stake in shares of NIKE during the 2nd quarter worth about $41,000. 64.45% of the stock is currently owned by institutional investors and hedge funds.
In other NIKE news, insider Heidi O’neill sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 21st. The stock was sold at an average price of $160.77, for a total value of $2,090,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Friend sold 43,000 shares of the company’s stock in a transaction on Tuesday, August 3rd. The shares were sold at an average price of $170.00, for a total transaction of $7,310,000.00. The disclosure for this sale can be found here. Insiders sold a total of 66,671 shares of company stock valued at $11,230,087 over the last quarter. Company insiders own 3.70% of the company’s stock.
NIKE (NYSE:NKE) last announced its earnings results on Wednesday, September 22nd. The footwear maker reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. The business had revenue of $12.25 billion for the quarter, compared to analyst estimates of $12.47 billion. NIKE had a return on equity of 51.41% and a net margin of 12.86%. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 4.3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 1st. Shareholders of record on Monday, August 30th were paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, August 27th. NIKE’s dividend payout ratio (DPR) is currently 30.90%.
Several equities research analysts recently issued reports on NKE shares. The Goldman Sachs Group set a $172.00 target price on shares of NIKE and gave the stock a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of NIKE from $179.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, September 20th. Barclays reduced their price target on shares of NIKE from $194.00 to $185.00 and set an “overweight” rating on the stock in a research report on Monday, September 27th. JPMorgan Chase & Co. set a $192.00 price target on shares of NIKE in a research report on Friday, September 24th. Finally, Argus lifted their price objective on shares of NIKE from $174.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $174.94.
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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