Reynders McVeigh Capital Management LLC increased its stake in Nike Inc (NYSE:NKE) by 27.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 197,978 shares of the footwear maker’s stock after purchasing an additional 42,584 shares during the quarter. Nike makes up approximately 1.3% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Reynders McVeigh Capital Management LLC’s holdings in Nike were worth $10,265,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of NKE. Janus Henderson Group PLC raised its holdings in Nike by 4,252.6% during the 2nd quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock valued at $980,539,000 after acquiring an additional 16,237,557 shares during the period. Capital World Investors raised its holdings in Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after acquiring an additional 8,058,601 shares during the period. Orbis Allan Gray Ltd bought a new stake in Nike during the 2nd quarter valued at $226,588,000. Alliancebernstein L.P. raised its holdings in Nike by 25.5% during the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after acquiring an additional 3,033,280 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Nike by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock valued at $5,876,718,000 after acquiring an additional 2,452,993 shares during the period. 62.97% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on NKE. Oppenheimer raised shares of Nike to a “buy” rating in a report on Wednesday. Citigroup restated a “buy” rating and set a $78.00 price target (up from $74.00) on shares of Nike in a research report on Wednesday. UBS Group set a $76.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity boosted their price target on shares of Nike from $50.00 to $64.00 and gave the company a “hold” rating in a research report on Tuesday, December 19th. Finally, Zacks Investment Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price target for the company in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $65.37.
Shares of Nike Inc (NKE) traded down $0.43 during trading hours on Friday, reaching $67.22. 9,235,431 shares of the company traded hands, compared to its average volume of 7,518,596. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. Nike Inc has a one year low of $50.35 and a one year high of $68.83. The stock has a market capitalization of $109,690.00, a price-to-earnings ratio of 29.10, a PEG ratio of 3.09 and a beta of 0.68.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. equities analysts predict that Nike Inc will post 2.25 earnings per share for the current fiscal year.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the completion of the sale, the chairman now directly owns 1,502,830 shares in the company, valued at $97,683,950. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at $1,441,376. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 932,896 shares of company stock valued at $59,594,217. Company insiders own 3.90% of the company’s stock.
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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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