Boston Family Office LLC cut its stake in shares of Nike Inc (NYSE:NKE) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,156 shares of the footwear maker’s stock after selling 1,371 shares during the period. Nike accounts for about 1.6% of Boston Family Office LLC’s portfolio, making the stock its 10th biggest position. Boston Family Office LLC’s holdings in Nike were worth $15,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of NKE. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Nike in the second quarter worth approximately $104,000. BDO Wealth Advisors LLC raised its holdings in shares of Nike by 1,044.3% in the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after buying an additional 1,274 shares during the period. Polaris Greystone Financial Group LLC purchased a new stake in shares of Nike in the third quarter worth approximately $119,000. CSat Investment Advisory L.P. purchased a new stake in shares of Nike in the second quarter worth approximately $119,000. Finally, Global Trust Asset Management LLC raised its holdings in shares of Nike by 1,253.8% in the third quarter. Global Trust Asset Management LLC now owns 1,760 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,630 shares during the period. Institutional investors and hedge funds own 64.35% of the company’s stock.
Shares of NYSE NKE opened at $77.53 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39. The firm has a market cap of $121.62 billion, a price-to-earnings ratio of 32.04, a P/E/G ratio of 2.39 and a beta of 0.77. Nike Inc has a 12-month low of $54.89 and a 12-month high of $86.04.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities research analysts expect that Nike Inc will post 2.62 EPS for the current year.
Several equities research analysts have recently weighed in on the company. HSBC reiterated a “neutral” rating and issued a $92.00 price target on shares of Nike in a report on Wednesday, October 3rd. Morgan Stanley set a $88.00 price target on Nike and gave the stock a “buy” rating in a report on Wednesday, September 19th. Daiwa Capital Markets set a $85.00 price target on Nike and gave the stock a “hold” rating in a report on Monday, October 1st. Bank of America increased their price target on Nike from $50.00 to $55.00 and gave the stock an “underperform” rating in a report on Wednesday, September 26th. Finally, Goldman Sachs Group set a $81.00 price target on Nike and gave the stock a “buy” rating in a report on Thursday, September 20th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. The stock 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 on Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on 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 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 worth $4,219,350 in the last ninety days. Insiders own 3.90% of the company’s stock.
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Nike Company Profile
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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