Vision Capital Management Inc. reduced its stake in shares of Nike, Inc. (NYSE:NKE) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,849 shares of the footwear maker’s stock after selling 1,052 shares during the quarter. Vision Capital Management Inc.’s holdings in Nike were worth $3,118,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fiduciary Trust Co. grew its stake in Nike by 4.9% during the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock worth $13,597,000 after buying an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. grew its stake in Nike by 651.4% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock worth $1,596,000 after buying an additional 23,450 shares during the last quarter. Royal Bank of Scotland Group PLC grew its stake in Nike by 6.2% during the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after buying an additional 12,201 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after purchasing an additional 4,030 shares in the last quarter. Finally, North Star Asset Management Inc. grew its stake in shares of Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after purchasing an additional 4,129 shares in the last quarter. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Nike, Inc. (NKE) opened at $55.98 on Wednesday. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike, Inc. has a 52-week low of $49.75 and a 52-week high of $60.53. The company has a market capitalization of $91,218.12, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 2.61 and a beta of 0.60.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. Nike’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.73 EPS. sell-side analysts expect that Nike, Inc. will post 2.29 earnings per share for the current fiscal year.
NKE has been the subject of several recent analyst reports. Jefferies Group LLC cut Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr cut Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target for the company. in a research note on Monday, September 4th. Goldman Sachs Group, Inc. (The) cut Nike from a “buy” rating to a “neutral” rating and increased their price target for the stock from $52.30 to $54.00 in a research note on Thursday, October 19th. Telsey Advisory Group decreased their price target on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Finally, Morgan Stanley raised Nike from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty have assigned a buy rating to the company. Nike currently has a consensus rating of “Hold” and a consensus price target of $58.93.
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In related news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by company 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’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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