Acadian Asset Management LLC raised its stake in Nike Inc (NYSE:NKE) by 311.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,668 shares of the footwear maker’s stock after buying an additional 57,285 shares during the period. Acadian Asset Management LLC’s holdings in Nike were worth $6,410,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Fuller & Thaler Asset Management Inc. bought a new position in shares of Nike in the second quarter valued at $104,000. BDO Wealth Advisors LLC increased 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 valued at $111,000 after buying an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. bought a new position in shares of Nike in the second quarter valued at $119,000. Polaris Greystone Financial Group LLC bought a new position in shares of Nike in the third quarter valued at $119,000. Finally, Global Trust Asset Management LLC increased 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 valued at $149,000 after buying an additional 1,630 shares in the last quarter. 64.35% of the stock is currently owned by institutional investors.
Nike stock opened at $76.57 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. Nike Inc has a 12 month low of $54.89 and a 12 month high of $86.04. The firm has a market cap of $121.62 billion, a PE ratio of 31.64, a P/E/G ratio of 2.39 and a beta of 0.77.
Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. During the same period in the previous year, the company posted $0.57 EPS. Nike’s revenue was up 9.7% on a year-over-year basis. As a group, equities 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 shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the transaction, the director now directly owns 26,963 shares in the company, 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 shares were sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the transaction, the executive vice president now owns 104,737 shares in the company, valued at $8,708,881.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $4,219,350. 3.90% of the stock is currently owned by corporate insiders.
NKE has been the topic of several research reports. Wedbush upped their price target on Nike from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, September 10th. Morgan Stanley set a $103.00 price target on Nike and gave the company a “buy” rating in a report on Tuesday, September 25th. Wells Fargo & Co set a $82.00 price target on Nike and gave the company a “hold” rating in a report on Monday, September 10th. HSBC reaffirmed a “neutral” rating and issued a $92.00 price target on shares of Nike in a report on Wednesday, October 3rd. Finally, Stifel Nicolaus upped their price target on Nike from $90.00 to $96.00 and gave the company a “buy” rating in a report on Monday, September 24th. 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 company. The stock has an average rating of “Buy” and a consensus price target of $85.63.
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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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