South State Corp lessened its stake in Nike, Inc. (NYSE:NKE) by 5.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,584 shares of the footwear maker’s stock after selling 1,750 shares during the period. South State Corp’s holdings in Nike were worth $1,687,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of NKE. V Wealth Management LLC acquired a new position in Nike in the second quarter worth $100,000. Asset Planning Services Ltd. boosted its holdings in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Rational Advisors LLC boosted its holdings in Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after purchasing an additional 321 shares during the period. Kistler Tiffany Companies LLC boosted its holdings in Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Nike by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares during the period. Institutional investors and hedge funds own 62.57% of the company’s stock.
NKE has been the subject of a number of research reports. Nomura set a $62.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Monday, July 17th. Needham & Company LLC initiated coverage on shares of Nike in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Morgan Stanley raised shares of Nike from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $68.00 in a report on Wednesday, July 19th. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Saturday, July 22nd. Finally, Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $58.93.
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Shares of Nike, Inc. (NKE) opened at $56.09 on Friday. The stock has a market capitalization of $91,511.79, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29. Nike, Inc. has a 12-month low of $49.75 and a 12-month high of $60.53.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. equities analysts forecast that Nike, Inc. will post 2.29 EPS for the current fiscal year.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’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 transaction of $7,429,050.00. Following the completion of the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’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 value of $855,200.00. Following the transaction, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
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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