Robeco Institutional Asset Management B.V. cut its position in Nike Inc. (NYSE:NKE) by 14.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,138,645 shares of the footwear maker’s stock after selling 196,817 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.07% of Nike worth $62,854,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. boosted its stake in shares of Nike by 219.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 92,978 shares of the footwear maker’s stock worth $5,132,000 after buying an additional 63,914 shares during the period. CWM LLC boosted its stake in shares of Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares during the period. Paragon Capital Management LLC boosted its stake in shares of Nike by 1.7% in the second quarter. Paragon Capital Management LLC now owns 191,963 shares of the footwear maker’s stock worth $10,596,000 after buying an additional 3,151 shares during the period. JLB & Associates Inc. boosted its stake in shares of Nike by 0.9% in the second quarter. JLB & Associates Inc. now owns 134,958 shares of the footwear maker’s stock worth $7,449,000 after buying an additional 1,263 shares during the period. Finally, Train Babcock Advisors LLC boosted its stake in shares of Nike by 1.2% in the second quarter. Train Babcock Advisors LLC now owns 82,305 shares of the footwear maker’s stock worth $4,543,000 after buying an additional 980 shares during the period. 62.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nike Inc. (NYSE:NKE) traded up 0.94% during midday trading on Friday, reaching $52.65. 12,940,220 shares of the company traded hands. Nike Inc. has a 1-year low of $51.48 and a 1-year high of $68.19. The firm has a market capitalization of $88.03 billion, a PE ratio of 23.76 and a beta of 0.52. The stock has a 50 day moving average price of $56.51 and a 200 day moving average price of $57.20.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company had revenue of $9.06 billion for the quarter. During the same quarter last year, the company posted $1.34 EPS. Nike’s quarterly revenue was up 7.7% compared to the same quarter last year. Analysts expect that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Tuesday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 1.22%. Nike’s dividend payout ratio (DPR) is presently 28.83%.
A number of equities research analysts have recently issued reports on NKE shares. B. Riley reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Nike in a research note on Monday, June 27th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Susquehanna reissued a “positive” rating and set a $74.00 price target on shares of Nike in a research report on Wednesday, June 22nd. Cowen and Company reissued a “buy” rating on shares of Nike in a research report on Wednesday, June 22nd. Finally, FBR & Co dropped their price target on shares of Nike from $63.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday. One 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. Nike presently has an average rating of “Buy” and an average target price of $64.54.
In other Nike news, EVP John F. Slusher sold 72,696 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $57.75, for a total value of $4,198,194.00. Following the sale, the executive vice president now owns 231,861 shares in the company, valued at approximately $13,389,972.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Hilary K. Krane sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the sale, the executive vice president now owns 310,795 shares in the company, valued at approximately $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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