Baystate Wealth Management LLC cut its stake in Nike Inc (NYSE:NKE) by 35.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,582 shares of the footwear maker’s stock after selling 1,420 shares during the quarter. Baystate Wealth Management LLC’s holdings in Nike were worth $238,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of NKE. Fiduciary Trust Co. increased its holdings in Nike by 4.9% in the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after purchasing an additional 10,840 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in Nike by 651.4% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after buying an additional 23,450 shares during the period. Great Lakes Advisors LLC boosted its position in Nike by 4.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after buying an additional 4,030 shares during the period. Amalgamated Bank boosted its position in Nike by 2.0% in the 3rd quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock valued at $8,261,000 after buying an additional 3,189 shares during the period. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in Nike by 20.0% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after buying an additional 17,285 shares during the period. 62.65% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on NKE. Oppenheimer raised shares of Nike to a “buy” rating in a research report on Wednesday, January 31st. Citigroup reissued a “buy” rating and issued a $78.00 price target (up from $74.00) on shares of Nike in a research report on Wednesday, January 31st. 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, February 1st. Canaccord Genuity boosted their price target 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. Finally, Zacks Investment Research upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Tuesday, December 19th. Two equities research 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 stock. The company has an average rating of “Buy” and a consensus price target of $65.37.
In other Nike news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction 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 sale, the executive vice president now owns 23,248 shares in the company, valued at $1,441,376. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now owns 227,199 shares in the company, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. Insiders have sold 932,896 shares of company stock worth $59,594,217 in the last ninety days. 3.90% of the stock is currently owned by insiders.
Nike Inc (NKE) traded up $0.05 during mid-day trading on Tuesday, hitting $66.03. 1,766,391 shares of the company traded hands, compared to its average volume of 8,194,611. 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 firm has a market capitalization of $107,550.00, a PE ratio of 28.60, a P/E/G ratio of 2.96 and a beta of 0.68. Nike Inc has a twelve month low of $50.35 and a twelve month high of $68.83.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Zacks’ 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 company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. analysts predict that Nike Inc will post 2.26 EPS for the current fiscal year.
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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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