Todays Report: The Eagle Capital Management LLC cuts its investment of stake in Nike Inc. (NKE)

The Eagle Capital Management LLC cuts its investment of stake in Nike Inc. (NKE)

Eagle Capital Management LLC decreased its position in Nike Inc. (NYSE:NKE) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 67,906 shares of the footwear maker’s stock after selling 1,747 shares during the period. Nike accounts for 4.1% of Eagle Capital Management LLC’s holdings, making the stock its 7th largest position. Eagle Capital Management LLC’s holdings in Nike were worth $3,748,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock worth $1,679,937,000 after buying an additional 13,136,502 shares during the period. Vontobel Asset Management Inc. purchased a new stake in Nike during the second quarter worth $175,750,000. Alecta Pensionsforsakring Omsesidigt increased its stake in Nike by 161.5% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,210,000 shares of the footwear maker’s stock worth $232,392,000 after buying an additional 2,600,000 shares during the period. Carmignac Gestion purchased a new stake in Nike during the second quarter worth $116,633,000. Finally, Geode Capital Management LLC increased its stake in Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock worth $711,300,000 after buying an additional 628,853 shares during the period. 62.08% of the stock is owned by institutional investors.

Nike Inc. (NYSE:NKE) traded down 0.52% on Monday, hitting $51.35. The stock had a trading volume of 3,212,582 shares. The company has a 50-day moving average price of $54.79 and a 200-day moving average price of $56.49. Nike Inc. has a 52 week low of $51.23 and a 52 week high of $68.19. The stock has a market capitalization of $85.86 billion, a price-to-earnings ratio of 23.17 and a beta of 0.56.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. The business earned $9.06 billion during the quarter. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.34 earnings per share. Equities research analysts anticipate that Nike Inc. will post $2.38 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Tuesday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, September 1st. Nike’s dividend payout ratio is currently 28.83%.

A number of equities research analysts have recently weighed in on NKE shares. Piper Jaffray Cos. reaffirmed a “neutral” rating and set a $53.00 price target on shares of Nike in a research note on Wednesday, October 12th. Robert W. Baird reissued an “outperform” rating and issued a $67.00 price objective on shares of Nike in a research note on Wednesday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 price objective on shares of Nike in a research note on Friday, August 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $62.00 price objective on shares of Nike in a research note on Tuesday, September 27th. Finally, Vetr downgraded Nike from a “hold” rating to a “sell” rating and set a $54.43 price objective on the stock. in a research note on Monday, August 15th. 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 an average price target of $63.99.

In related news, EVP Hilary K. Krane sold 100,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the completion of the transaction, the executive vice president now directly owns 310,795 shares of the company’s stock, valued at approximately $17,712,207.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction that occurred on Friday, September 30th. The shares were bought at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the transaction, the director now owns 27,560 shares in the company, valued at $1,452,963.20. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

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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