Principle Wealth Partners LLC Acquires 540 Shares of Nike Inc (NYSE:NKE)

Principle Wealth Partners LLC grew its holdings in shares of Nike Inc (NYSE:NKE) by 9.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,464 shares of the footwear maker’s stock after purchasing an additional 540 shares during the quarter. Principle Wealth Partners LLC’s holdings in Nike were worth $607,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nuveen Asset Management LLC lifted its holdings in shares of Nike by 6,608.4% in the second quarter. Nuveen Asset Management LLC now owns 14,363,870 shares of the footwear maker’s stock worth $1,205,847,000 after buying an additional 14,149,753 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Nike by 13.6% in the second quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock worth $1,973,692,000 after buying an additional 2,809,878 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Nike by 2.2% in the second quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after buying an additional 1,883,150 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nike by 1.4% in the second quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock worth $8,846,169,000 after buying an additional 1,469,583 shares in the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Nike in the second quarter worth about $106,608,000. Hedge funds and other institutional investors own 65.37% of the company’s stock.

NYSE NKE traded down $0.59 on Friday, reaching $89.81. 4,461,037 shares of the company’s stock traded hands, compared to its average volume of 6,516,054. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29. Nike Inc has a 12 month low of $66.53 and a 12 month high of $96.87. The stock has a market cap of $140.31 billion, a PE ratio of 36.07, a P/E/G ratio of 2.31 and a beta of 0.83. The stock has a 50-day simple moving average of $91.77 and a 200 day simple moving average of $86.32.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The firm had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the business earned $0.67 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Nike Inc will post 2.98 EPS for the current year.

In other news, CFO Andrew Campion sold 122,874 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $91.99, for a total value of $11,303,179.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Elliott Hill sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total transaction of $240,879.20. The disclosure for this sale can be found here. Insiders sold 436,445 shares of company stock worth $40,260,653 in the last 90 days. Company insiders own 3.80% of the company’s stock.

NKE has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of Nike from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Goldman Sachs Group set a $95.00 target price on shares of Nike and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Morgan Stanley raised their target price on shares of Nike from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. set a $105.00 target price on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Co raised their target price on shares of Nike from $85.00 to $91.00 and gave the company a “market perform” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Nike currently has a consensus rating of “Buy” and an average target price of $97.07.

Nike Company 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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