Dai Ichi Life Insurance Company Ltd reduced its holdings in Nike Inc (NYSE:NKE) by 28.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,283 shares of the footwear maker’s stock after selling 53,294 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Nike were worth $6,807,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of NKE. Willingdon Wealth Management purchased a new position in shares of Nike during the 3rd quarter worth about $114,000. Asset Planning Services Ltd. boosted its stake in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares during the period. Atlantic Trust LLC purchased a new position in shares of Nike during the 2nd quarter worth about $136,000. Howe & Rusling Inc. boosted its stake in shares of Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares during the period. 62.97% of the stock is owned by institutional investors and hedge funds.
Nike Inc (NKE) traded down $0.43 during midday trading on Friday, hitting $67.22. 9,235,431 shares of the company traded hands, compared to its average volume of 8,060,000. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The company has a market cap of $109,670.00, a price-to-earnings ratio of 29.10, a PEG ratio of 3.07 and a beta of 0.68. Nike Inc has a 1 year low of $50.35 and a 1 year high of $68.83.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 EPS. analysts anticipate that Nike Inc will post 2.25 EPS for the current year.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. In the last quarter, insiders have sold 932,896 shares of company stock valued at $59,594,217. 3.90% of the stock is currently owned by company insiders.
A number of equities analysts recently commented on the stock. Oppenheimer raised shares of Nike to a “buy” rating in a research note on Wednesday. Citigroup reissued a “buy” rating and issued a $78.00 price objective (up from $74.00) on shares of Nike in a research report on Wednesday. UBS Group set a $76.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity boosted their price objective 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 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 report on Tuesday, December 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $65.37.
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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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