Edgewood Management LLC Acquires 1,936,811 Shares of Nike Inc (NKE)

Edgewood Management LLC grew its holdings in Nike Inc (NYSE:NKE) by 15.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,245,826 shares of the footwear maker’s stock after buying an additional 1,936,811 shares during the period. Nike makes up 3.4% of Edgewood Management LLC’s portfolio, making the stock its 19th largest holding. Edgewood Management LLC owned approximately 0.87% of Nike worth $738,646,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Thornburg Investment Management Inc. grew its stake in shares of Nike by 50.0% in the 3rd quarter. Thornburg Investment Management Inc. now owns 2,262,538 shares of the footwear maker’s stock worth $117,313,000 after buying an additional 754,253 shares in the last quarter. Citizens & Northern Corp grew its stake in shares of Nike by 14.4% in the 3rd quarter. Citizens & Northern Corp now owns 48,247 shares of the footwear maker’s stock worth $2,502,000 after buying an additional 6,055 shares in the last quarter. Pittenger & Anderson Inc. grew its stake in shares of Nike by 1.4% in the 3rd quarter. Pittenger & Anderson Inc. now owns 119,291 shares of the footwear maker’s stock worth $6,185,000 after buying an additional 1,625 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Nike by 7.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 4,749,651 shares of the footwear maker’s stock worth $246,270,000 after buying an additional 318,498 shares in the last quarter. Finally, Commonwealth Bank of Australia grew its stake in shares of Nike by 10.2% in the 3rd quarter. Commonwealth Bank of Australia now owns 105,588 shares of the footwear maker’s stock worth $5,467,000 after buying an additional 9,735 shares in the last quarter. 62.67% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders have sold a total of 967,896 shares of company stock valued at $60,257,267 in the last quarter. 3.90% of the stock is currently owned by company insiders.

Shares of Nike Inc (NYSE NKE) opened at $64.67 on Friday. Nike Inc has a twelve month low of $50.35 and a twelve month high of $65.18. The firm has a market cap of $105,510.00, a PE ratio of 28.00, a P/E/G ratio of 2.92 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts forecast that Nike Inc will post 2.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were issued a dividend of $0.20 per share. This is a positive change from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.24%. Nike’s dividend payout ratio (DPR) is presently 34.63%.

A number of equities analysts have commented on the stock. Citigroup reissued a “buy” rating and issued a $74.00 price objective on shares of Nike in a research note on Tuesday, December 19th. Canaccord Genuity lifted their price objective on shares of Nike from $50.00 to $64.00 and gave the stock a “hold” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, December 19th. Telsey Advisory Group lifted their price target on shares of Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. Finally, Buckingham Research lifted their price target on shares of Nike from $64.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $64.40.

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Nike Company Profile

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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