Essex Savings Bank Takes $482,000 Position in Nike Inc (NKE)

Essex Savings Bank acquired a new stake in Nike Inc (NYSE:NKE) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,500 shares of the footwear maker’s stock, valued at approximately $482,000.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Nike by 1.4% in the 2nd quarter. FMR LLC now owns 15,661,001 shares of the footwear maker’s stock valued at $1,247,869,000 after purchasing an additional 219,743 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Nike by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after purchasing an additional 1,273,548 shares in the last quarter. Security National Bank boosted its holdings in Nike by 2.7% in the 3rd quarter. Security National Bank now owns 45,354 shares of the footwear maker’s stock valued at $3,842,000 after purchasing an additional 1,206 shares in the last quarter. Tandem Investment Advisors Inc. boosted its holdings in Nike by 10.3% in the 3rd quarter. Tandem Investment Advisors Inc. now owns 132,287 shares of the footwear maker’s stock valued at $11,207,000 after purchasing an additional 12,331 shares in the last quarter. Finally, Sheets Smith Wealth Management boosted its holdings in Nike by 10.7% in the 3rd quarter. Sheets Smith Wealth Management now owns 130,064 shares of the footwear maker’s stock valued at $11,019,000 after purchasing an additional 12,585 shares in the last quarter. Institutional investors own 66.93% of the company’s stock.

Shares of Nike stock opened at $83.68 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40. Nike Inc has a 1 year low of $63.21 and a 1 year high of $86.04. The company has a market cap of $129.62 billion, a P/E ratio of 34.58, a P/E/G ratio of 2.54 and a beta of 0.69.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the previous year, the firm posted $0.46 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts forecast that Nike Inc will post 2.63 EPS for the current fiscal year.

A number of equities research analysts have weighed in on NKE shares. JPMorgan Chase & Co. lifted their price objective on Nike to $87.06 and gave the company a “neutral” rating in a report on Friday, December 21st. Macquarie set a $98.00 price target on Nike and gave the stock a “buy” rating in a research note on Tuesday, November 20th. Pivotal Research raised Nike from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Friday, December 21st. Bank of America set a $55.00 price target on Nike and gave the stock a “sell” rating in a research note on Sunday, December 23rd. Finally, Cowen set a $80.00 price target on Nike and gave the stock a “hold” rating in a research note on Friday, January 11th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $84.19.

In related news, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark G. Parker sold 150,000 shares of Nike stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $80.00, for a total value of $12,000,000.00. Following the transaction, the chief executive officer now owns 1,687,863 shares of the company’s stock, valued at $135,029,040. The disclosure for this sale can be found here. Insiders have sold a total of 800,000 shares of company stock valued at $61,862,000 over the last 90 days. Insiders own 3.90% of the company’s stock.

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About Nike

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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