Selway Asset Management reduced its position in Nike Inc (NYSE:NKE) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,500 shares of the footwear maker’s stock after selling 3,200 shares during the quarter. Nike comprises approximately 1.7% of Selway Asset Management’s investment portfolio, making the stock its 22nd largest position. Selway Asset Management’s holdings in Nike were worth $2,838,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jennison Associates LLC grew its holdings in Nike by 26.5% in the 2nd quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock valued at $1,174,533,000 after buying an additional 3,087,189 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Nike by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after buying an additional 1,273,548 shares in the last quarter. Millennium Management LLC grew its holdings in Nike by 2,820.1% in the 2nd quarter. Millennium Management LLC now owns 1,169,503 shares of the footwear maker’s stock valued at $93,186,000 after buying an additional 1,129,453 shares in the last quarter. LFA Lugano Financial Advisors SA purchased a new stake in Nike in the 2nd quarter valued at $1,039,000. Finally, Bessemer Group Inc. grew its holdings in Nike by 32.5% in the 2nd quarter. Bessemer Group Inc. now owns 3,830,654 shares of the footwear maker’s stock valued at $305,227,000 after buying an additional 940,411 shares in the last quarter. 64.49% of the stock is owned by hedge funds and other institutional investors.
Shares of Nike stock opened at $76.79 on Friday. Nike Inc has a 12 month low of $54.59 and a 12 month high of $86.04. The stock has a market cap of $118.33 billion, a P/E ratio of 31.73, a PEG ratio of 2.33 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The company had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same period last year, the business posted $0.57 EPS. Nike’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Nike Inc will post 2.62 EPS for the current fiscal year.
Several brokerages have issued reports on NKE. Macquarie restated a “buy” rating and issued a $98.00 target price on shares of Nike in a report on Monday. CIBC upgraded Nike from a “market perform” rating to an “outperform” rating in a report on Thursday, October 18th. Oppenheimer upgraded Nike from a “market perform” rating to an “outperform” rating and set a $90.00 target price for the company in a report on Thursday, October 18th. UBS Group reiterated a “neutral” rating on shares of Nike in a report on Wednesday, October 17th. Finally, Cowen set a $81.00 price target on Nike and gave the stock a “hold” rating in a report on Wednesday, October 10th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $85.63.
In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction dated Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total value of $1,413,550.00. Following the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at approximately $8,708,881.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the sale, the director now directly owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $4,219,350 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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