Reliant Investment Management LLC Acquires New Position in Nike Inc (NYSE:NKE)

Reliant Investment Management LLC acquired a new stake in Nike Inc (NYSE:NKE) in the second quarter, HoldingsChannel.com reports. The fund acquired 34,530 shares of the footwear maker’s stock, valued at approximately $3,386,000. Nike accounts for 2.5% of Reliant Investment Management LLC’s portfolio, making the stock its 21st biggest position.

A number of other large investors have also recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado raised its position in shares of Nike by 14.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 2,101,180 shares of the footwear maker’s stock worth $173,852,000 after purchasing an additional 258,577 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Nike by 26.0% during the 1st quarter. Victory Capital Management Inc. now owns 1,581,584 shares of the footwear maker’s stock worth $130,860,000 after purchasing an additional 326,628 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Nike during the 1st quarter worth approximately $252,000. Allen Investment Management LLC raised its position in shares of Nike by 7.3% during the 1st quarter. Allen Investment Management LLC now owns 6,480 shares of the footwear maker’s stock worth $536,000 after purchasing an additional 441 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its position in shares of Nike by 5.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 12,993 shares of the footwear maker’s stock worth $1,075,000 after purchasing an additional 619 shares during the last quarter. Hedge funds and other institutional investors own 64.20% of the company’s stock.

Shares of Nike stock traded down $0.01 during trading on Tuesday, reaching $119.27. The company had a trading volume of 5,930,134 shares, compared to its average volume of 7,756,600. The company has a market cap of $186.06 billion, a price-to-earnings ratio of 75.96, a price-to-earnings-growth ratio of 3.13 and a beta of 0.83. The firm’s fifty day moving average is $107.26 and its 200-day moving average is $94.68. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.59 and a current ratio of 2.48. Nike Inc has a fifty-two week low of $60.00 and a fifty-two week high of $120.48.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.53). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 32.95%. The business’s revenue for the quarter was down 38.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 EPS. On average, research analysts anticipate that Nike Inc will post 2.31 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be paid a $0.245 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 0.82%. Nike’s dividend payout ratio (DPR) is presently 52.97%.

In other news, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $96.33, for a total value of $1,059,630.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 8,500 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $108.00, for a total transaction of $918,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,356 shares of company stock worth $14,962,435. Company insiders own 3.80% of the company’s stock.

Several research firms have commented on NKE. TheStreet cut shares of Nike from a “b” rating to a “c+” rating in a research note on Thursday, June 25th. Raymond James lifted their target price on shares of Nike from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Argus reaffirmed a “buy” rating and issued a $115.00 target price on shares of Nike in a research note on Tuesday, June 30th. BMO Capital Markets reaffirmed a “buy” rating and issued a $100.00 target price on shares of Nike in a research note on Friday, June 26th. Finally, Sanford C. Bernstein boosted their price objective on shares of Nike from $101.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $112.90.

Nike 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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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