Meeder Asset Management Inc. grew its stake in shares of Nike Inc (NYSE:NKE) by 2,556.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 37,530 shares of the footwear maker’s stock after acquiring an additional 36,117 shares during the quarter. Meeder Asset Management Inc.’s holdings in Nike were worth $3,150,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after acquiring an additional 4,908,916 shares during the period. Janus Henderson Group PLC lifted its position in shares of Nike by 4.7% during the 2nd quarter. Janus Henderson Group PLC now owns 11,145,233 shares of the footwear maker’s stock valued at $935,594,000 after acquiring an additional 504,108 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Nike by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock valued at $260,074,000 after acquiring an additional 69,032 shares during the period. Bessemer Group Inc. lifted its position in shares of Nike by 40.8% during the 2nd quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock valued at $275,583,000 after acquiring an additional 950,574 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of Nike by 10.5% during the 1st quarter. Bank of Montreal Can now owns 3,201,840 shares of the footwear maker’s stock valued at $269,624,000 after acquiring an additional 305,552 shares during the period. Hedge funds and other institutional investors own 66.41% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating and set a $95.00 price objective for the company in a research report on Monday, May 27th. Deutsche Bank set a $100.00 price objective on Nike and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Bank of America upgraded Nike to an “underperform” rating and upped their price objective for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. JPMorgan Chase & Co. upped their price objective on Nike from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, UBS Group set a $85.00 price objective on Nike and gave the stock a “neutral” rating in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price 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 consensus estimate of $0.66 by ($0.04). Nike had a net margin of 10.30% and a return on equity of 45.12%. The business had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Nike Inc will post 2.9 earnings per share for the current 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 given a dividend of $0.22 per share. The ex-dividend date is Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 1.08%. Nike’s payout ratio is 35.34%.
In related news, insider Elliott Hill sold 34,100 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $88.34, for a total transaction of $3,012,394.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 38,813 shares in the company, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 194,637 shares of company stock worth $16,767,237. 3.80% of the stock is owned by corporate insiders.
Nike Company Profile
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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