Fiera Capital Corp increased its stake in Nike, Inc. (NYSE:NKE) by 13.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,434,598 shares of the footwear maker’s stock after buying an additional 638,015 shares during the period. Nike comprises about 1.6% of Fiera Capital Corp’s investment portfolio, making the stock its 20th largest position. Fiera Capital Corp owned approximately 0.41% of Nike worth $320,641,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of NKE. State Street Corp boosted its holdings in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock worth $3,319,086,000 after purchasing an additional 835,003 shares during the period. Wellington Management Group LLP boosted its holdings in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after purchasing an additional 2,375,447 shares during the period. Alliancebernstein L.P. boosted its holdings in Nike by 25.5% in the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after purchasing an additional 3,033,280 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after purchasing an additional 1,130,409 shares during the period. Finally, Polen Capital Management LLC boosted its holdings in Nike by 7.1% in the second quarter. Polen Capital Management LLC now owns 12,158,635 shares of the footwear maker’s stock worth $717,359,000 after purchasing an additional 807,786 shares during the period. Institutional investors and hedge funds own 62.57% of the company’s stock.
Several brokerages have recently issued reports on NKE. B. Riley reissued a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Jefferies Group LLC reissued a “hold” rating and set a $48.00 price target (down previously from $49.00) on shares of Nike in a report on Wednesday, September 27th. Canaccord Genuity reissued a “hold” rating and set a $50.00 price target (down previously from $51.00) on shares of Nike in a report on Wednesday, September 27th. Susquehanna Bancshares Inc reissued a “hold” rating and set a $47.00 price target (down previously from $54.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $66.00 price target on shares of Nike in a report on Saturday, September 30th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have assigned a buy rating to the stock. Nike presently has an average 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. Nike, Inc. has a 12-month low of $49.75 and a 12-month high of $60.53. 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 (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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