Nike Inc (NKE) Stake Raised by Edgewood Management LLC

Edgewood Management LLC boosted its stake in shares of Nike Inc (NYSE:NKE) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,245,826 shares of the footwear maker’s stock after buying an additional 1,936,811 shares during the period. Nike accounts for about 3.4% of Edgewood Management LLC’s investment portfolio, making the stock its 19th biggest holding. Edgewood Management LLC owned approximately 0.87% of Nike worth $738,646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of NKE. Asset Planning Services Ltd. lifted its holdings 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 valued at $126,000 after purchasing an additional 7 shares during the last quarter. Willingdon Wealth Management purchased a new stake in shares of Nike during the 3rd quarter valued at $114,000. Atlantic Trust LLC purchased a new stake in shares of Nike during the 2nd quarter valued at $136,000. Kistler Tiffany Companies LLC lifted its holdings 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 valued at $149,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Howe & Rusling Inc. lifted its holdings 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 valued at $137,000 after purchasing an additional 2,329 shares during the last quarter. Institutional investors own 62.78% of the company’s stock.

In related news, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total value of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of Nike 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 completion of the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders have sold a total of 932,896 shares of company stock valued at $59,594,217 in the last 90 days. Insiders own 3.90% of the company’s stock.

Shares of Nike Inc (NYSE:NKE) traded down $2.83 during midday trading on Monday, hitting $64.39. 12,440,730 shares of the stock were exchanged, compared to its average volume of 8,100,000. The firm has a market cap of $105,050.00, a P/E ratio of 27.87, a P/E/G ratio of 3.04 and a beta of 0.68. 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 fifty-two week low of $50.35 and a fifty-two week high of $68.83.

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

Several brokerages have recently commented on NKE. B. Riley reiterated a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 target price on shares of Nike in a research report on Friday, December 22nd. Macquarie set a $72.00 target price on Nike and gave the company a “buy” rating in a research report on Thursday, January 11th. Cowen set a $64.00 target price on Nike and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, Oppenheimer raised Nike to a “buy” rating in a research report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.37.

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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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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