Horan Capital Advisors LLC. purchased a new position in shares of Nike Inc (NYSE:NKE) in the third quarter, according to its most recent filing with the SEC. The firm purchased 2,110 shares of the footwear maker’s stock, valued at approximately $179,000.
Other institutional investors have also modified their holdings of the company. Chevy Chase Trust Holdings Inc. grew its stake in shares of Nike by 0.4% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 1,609,608 shares of the footwear maker’s stock valued at $128,253,000 after buying an additional 6,256 shares during the period. Riverhead Capital Management LLC grew its stake in shares of Nike by 7.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 21,710 shares of the footwear maker’s stock valued at $1,730,000 after buying an additional 1,525 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Nike by 49.3% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 531,637 shares of the footwear maker’s stock valued at $42,361,000 after buying an additional 175,587 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Nike by 362.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 684,436 shares of the footwear maker’s stock valued at $54,536,000 after buying an additional 536,468 shares during the period. Finally, Calamos Wealth Management LLC acquired a new stake in shares of Nike in the 3rd quarter valued at about $773,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.
In related news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction that occurred on Tuesday, September 11th. The shares were 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 in the company, valued at approximately $8,708,881.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred 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 completion of the transaction, the director now owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Insiders sold a total of 50,000 shares of company stock worth $4,219,350 in the last ninety days. 3.90% of the stock is currently owned by insiders.
NKE has been the subject of several research reports. Macquarie restated a “buy” rating and issued a $87.00 target price on shares of Nike in a research note on Tuesday, July 10th. Morgan Stanley initiated coverage on Nike in a research note on Wednesday, August 1st. They issued an “overweight” rating and a $88.00 target price for the company. Wells Fargo & Co set a $82.00 target price on Nike and gave the company a “neutral” rating in a research note on Monday, August 6th. JPMorgan Chase & Co. raised their target price on Nike from $76.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, August 15th. Finally, Piper Jaffray Companies upgraded Nike from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $93.00 in a research note on Monday, August 20th. Two research 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 has a consensus rating of “Buy” and an average target price of $85.63.
NYSE:NKE opened at $76.57 on Wednesday. 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 company has a market capitalization of $121.62 billion, a P/E ratio of 31.64, 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 posted its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. Nike’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. As a group, sell-side analysts expect that Nike Inc will post 2.62 EPS for the current year.
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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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