Neuberger Berman Group LLC grew its stake in Nike, Inc. (NYSE:NKE) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,247,493 shares of the footwear maker’s stock after acquiring an additional 38,332 shares during the period. Neuberger Berman Group LLC owned 0.17% of Nike worth $132,602,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. V Wealth Management LLC acquired a new stake in Nike in the 2nd quarter valued at about $100,000. Asset Planning Services Ltd. lifted its position in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC lifted its position in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares during the last quarter. Rational Advisors LLC lifted its position in Nike by 14.3% during the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after acquiring an additional 321 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Nike by 7.8% during the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 62.57% of the company’s stock.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
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Several equities research analysts have issued reports on the stock. B. Riley restated a “neutral” rating on shares of Nike in a research report on Wednesday, November 1st. Guggenheim reiterated a “buy” rating and issued a $70.00 price target on shares of Nike in a research report on Monday, July 24th. FBR & Co reiterated a “hold” rating and issued a $53.00 price target on shares of Nike in a research report on Thursday, September 14th. Raymond James Financial, Inc. dropped their price target on shares of Nike from $71.00 to $67.00 and set an “outperform” rating for the company in a research report on Tuesday, September 19th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $64.00 price target on shares of Nike in a research report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $58.93.
Nike, Inc. (NYSE:NKE) traded down $0.04 during trading hours on Friday, hitting $56.09. 7,535,700 shares of the stock traded hands, compared to its average volume of 9,636,238. Nike, Inc. has a 12-month low of $49.75 and a 12-month high of $60.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The stock has a market cap of $91,577.05, a PE ratio of 23.89, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period last year, the company posted $0.73 EPS. The company’s quarterly revenue was up .1% compared to the same quarter last year. equities research analysts expect that Nike, Inc. will post 2.29 earnings per share for the current fiscal year.
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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