Eads & Heald Wealth Management lessened its position in shares of Nike Inc (NYSE:NKE) by 8.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,910 shares of the footwear maker’s stock after selling 2,652 shares during the quarter. Nike comprises about 1.4% of Eads & Heald Wealth Management’s investment portfolio, making the stock its 15th biggest holding. Eads & Heald Wealth Management’s holdings in Nike were worth $2,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. ST Germain D J Co. Inc. boosted its holdings in shares of Nike by 9.3% in the 2nd quarter. ST Germain D J Co. Inc. now owns 7,763 shares of the footwear maker’s stock worth $619,000 after purchasing an additional 660 shares during the period. Norway Savings Bank boosted its holdings in shares of Nike by 17.5% in the 2nd quarter. Norway Savings Bank now owns 4,610 shares of the footwear maker’s stock worth $367,000 after purchasing an additional 685 shares during the period. Peregrine Capital Management LLC boosted its holdings in shares of Nike by 0.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 223,178 shares of the footwear maker’s stock worth $17,783,000 after purchasing an additional 689 shares during the period. Barrett Asset Management LLC boosted its holdings in Nike by 3.2% during the 2nd quarter. Barrett Asset Management LLC now owns 22,449 shares of the footwear maker’s stock valued at $1,789,000 after acquiring an additional 700 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Nike by 1.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 49,366 shares of the footwear maker’s stock valued at $3,932,000 after acquiring an additional 703 shares during the period. Institutional investors and hedge funds own 64.49% of the company’s stock.
A number of research firms recently issued reports on NKE. Macquarie restated a “buy” rating and set a $98.00 price objective on shares of Nike in a report on Monday, October 29th. 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 price objective for the company in a report on Thursday, October 18th. UBS Group restated a “neutral” rating on shares of Nike in a report on Wednesday, October 17th. Finally, Cowen set a $81.00 price objective on Nike and gave the company a “hold” rating in a report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus target price of $85.63.
Shares of NYSE NKE opened at $76.58 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53. The firm has a market cap of $121.62 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.39 and a beta of 0.77. Nike Inc has a twelve month low of $54.89 and a twelve month high of $86.04.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. Nike’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Research analysts expect that Nike Inc will post 2.62 earnings per share for the current fiscal year.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the transaction, the director now directly owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at $8,708,881.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by corporate 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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