Parsons Capital Management Inc. RI increased its holdings in shares of Nike Inc (NYSE:NKE) by 0.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,442 shares of the footwear maker’s stock after buying an additional 149 shares during the period. Parsons Capital Management Inc. RI’s holdings in Nike were worth $5,158,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. FMR LLC increased its stake in Nike by 27.0% in the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after purchasing an additional 4,908,916 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Nike by 4.7% during the second quarter. Janus Henderson Group PLC now owns 11,145,233 shares of the footwear maker’s stock worth $935,594,000 after acquiring an additional 504,108 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nike by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock worth $260,074,000 after acquiring an additional 69,032 shares in the last quarter. Bessemer Group Inc. increased its position 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 acquiring an additional 950,574 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Nike by 10.5% during the first quarter. Bank of Montreal Can now owns 3,201,840 shares of the footwear maker’s stock worth $269,624,000 after acquiring an additional 305,552 shares in the last quarter. 66.15% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on NKE shares. UBS Group set a $85.00 price objective on shares of Nike and gave the stock a “neutral” rating in a research report on Monday, June 17th. 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. Deutsche Bank set a $100.00 price objective on shares of 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 shares of Nike and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on shares of Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $90.02.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $0.62 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nike Inc will post 2.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, August 30th. Nike’s payout ratio is 35.34%.
In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 38,813 shares in the company, valued at $3,292,894.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $85.26, for a total transaction of $9,378,600.00. The disclosure for this sale can be found here. Insiders have sold 194,637 shares of company stock valued at $16,767,237 in the last 90 days. 3.80% of the stock is currently owned by corporate insiders.
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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