Rovida Advisors Inc. Decreases Stock Position in NIKE, Inc. $NKE

Rovida Advisors Inc. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 57.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,000 shares of the footwear maker’s stock after selling 100,000 shares during the period. NIKE accounts for about 0.8% of Rovida Advisors Inc.’s investment portfolio, making the stock its 20th largest position. Rovida Advisors Inc.’s holdings in NIKE were worth $5,326,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the 2nd quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new stake in NIKE during the 1st quarter valued at $25,000. Halbert Hargrove Global Advisors LLC increased its position in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares in the last quarter. Matrix Trust Co lifted its position in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of NIKE during the first quarter valued at $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.5%

Shares of NKE opened at $62.79 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $92.81 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The stock’s fifty day simple moving average is $67.82 and its 200 day simple moving average is $68.85. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $64.80, for a total transaction of $5,577,854.40. Following the completion of the sale, the chairman directly owned 647,615 shares in the company, valued at $41,965,452. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 16,150 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the purchase, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price objective on shares of NIKE in a research report on Monday, September 29th. DZ Bank upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Finally, Barclays set a $70.00 price objective on NIKE and gave the stock a “positive” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $82.24.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.