Neuberger Berman Group LLC increased its position in Nike Inc (NYSE:NKE) by 28.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,896,488 shares of the footwear maker’s stock after acquiring an additional 648,995 shares during the period. Neuberger Berman Group LLC owned about 0.18% of Nike worth $150,183,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vontobel Asset Management Inc. grew its holdings in Nike by 13.7% during the second quarter. Vontobel Asset Management Inc. now owns 5,028,879 shares of the footwear maker’s stock valued at $303,885,000 after purchasing an additional 604,970 shares during the period. Northwest Investment Counselors LLC grew its holdings in Nike by 1.2% during the second quarter. Northwest Investment Counselors LLC now owns 27,648 shares of the footwear maker’s stock valued at $1,631,000 after purchasing an additional 317 shares during the period. Stokes & Hubbell Capital Management LLC purchased a new position in shares of Nike in the second quarter valued at about $1,486,000. Bank of The West lifted its position in shares of Nike by 1.9% in the second quarter. Bank of The West now owns 42,457 shares of the footwear maker’s stock valued at $2,505,000 after acquiring an additional 788 shares in the last quarter. Finally, Acropolis Investment Management LLC purchased a new position in shares of Nike in the second quarter valued at about $1,092,000. 62.65% of the stock is owned by institutional investors.
Several equities analysts have recently commented on NKE shares. Goldman Sachs Group downgraded Nike from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $52.30 to $54.00 in a research report on Thursday, October 19th. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $58.95 price objective on the stock in a research report on Monday, October 30th. Argus upgraded Nike from a “hold” rating to a “buy” rating and boosted their price objective for the company from $50.35 to $64.46 in a research report on Thursday, December 14th. Forward View upgraded Nike from a “sell” rating to a “hold” rating in a research report on Sunday, October 29th. Finally, Buckingham Research set a $71.00 price objective on Nike and gave the company a “buy” rating in a research report on Monday, December 25th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $65.37.
In other news, insider Eric D. Sprunk sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the transaction, the insider now owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F. Slusher sold 125,722 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $63.17, for a total value of $7,941,858.74. Following the transaction, the executive vice president now directly owns 268,169 shares in the company, valued at approximately $16,940,235.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 932,896 shares of company stock worth $59,594,217. Insiders own 3.90% of the company’s stock.
Shares of Nike Inc (NYSE NKE) traded up $2.09 during midday trading on Wednesday, reaching $67.96. The company’s stock had a trading volume of 8,660,000 shares, compared to its average volume of 8,500,000. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. Nike Inc has a 52 week low of $50.35 and a 52 week high of $68.83. The company has a market capitalization of $110,880.00, a PE ratio of 29.42, a P/E/G ratio of 2.98 and a beta of 0.68.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts predict that Nike Inc will post 2.26 EPS for the current year.
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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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