Strategic Capital Advisers Inc. trimmed its holdings in Nike Inc (NYSE:NKE) by 0.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,616 shares of the footwear maker’s stock after selling 200 shares during the quarter. Nike comprises about 3.3% of Strategic Capital Advisers Inc.’s portfolio, making the stock its 6th biggest position. Strategic Capital Advisers Inc.’s holdings in Nike were worth $2,969,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 1,469,583 shares during the last quarter. BlackRock Inc. boosted 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 acquiring an additional 1,883,150 shares during the period. Jennison Associates LLC boosted 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 acquiring an additional 2,809,878 shares during the period. Northern Trust Corp boosted its holdings in shares of Nike by 0.4% in the second quarter. Northern Trust Corp now owns 21,011,376 shares of the footwear maker’s stock worth $1,763,905,000 after acquiring an additional 73,514 shares during the period. Finally, Edgewood Management LLC boosted its holdings in shares of Nike by 1.1% in the second quarter. Edgewood Management LLC now owns 16,990,039 shares of the footwear maker’s stock worth $1,426,314,000 after acquiring an additional 183,581 shares during the period. 65.37% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on NKE shares. Oppenheimer raised their price target on Nike from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Credit Suisse Group reiterated a “buy” rating and issued a $112.00 price objective on shares of Nike in a research report on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $96.00) on shares of Nike in a research report on Wednesday, September 25th. Morgan Stanley increased their price objective on Nike from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Co increased their price objective on Nike from $85.00 to $91.00 and gave the stock a “market perform” rating in a research report 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 stock. The stock presently has an average rating of “Buy” and an average price target of $97.07.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $10.43 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Nike Inc will post 2.98 earnings per share for the current fiscal year.
In other Nike news, CAO Hilary K. Krane sold 32,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $89.30, for a total transaction of $2,902,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Elliott Hill sold 2,770 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were 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. Over the last 90 days, insiders sold 436,445 shares of company stock valued at $40,260,653. 3.80% of the stock is owned by company insiders.
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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