Fulton Breakefield Broenniman LLC Increases Stock Position in Nike Inc (NYSE:NKE)

Fulton Breakefield Broenniman LLC lifted its holdings in shares of Nike Inc (NYSE:NKE) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,389 shares of the footwear maker’s stock after acquiring an additional 332 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Nike were worth $5,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Jackson Grant Investment Advisers Inc. purchased a new position in Nike in the 1st quarter valued at $25,000. Shamrock Asset Management LLC purchased a new position in Nike in the 1st quarter valued at $25,000. Thor Advisors LLC purchased a new position in Nike in the 1st quarter valued at $26,000. Mackey Komara & Dankovich LLC purchased a new position in Nike in the 1st quarter valued at $30,000. Finally, Hexavest Inc. purchased a new position in Nike in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 65.68% of the company’s stock.

In related news, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the transaction, the director now owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elliott Hill sold 3,228 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.07, for a total transaction of $281,061.96. The disclosure for this sale can be found here. Insiders have sold a total of 84,637 shares of company stock valued at $7,388,637 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

NKE has been the topic of a number of analyst reports. Citigroup initiated coverage on shares of Nike in a research report on Wednesday, April 10th. They issued a “buy” rating and a $100.00 price objective on the stock. Pivotal Research set a $101.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Morgan Stanley set a $103.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Piper Jaffray Companies set a $97.00 target price on Nike and gave the company a “buy” rating in a report on Friday, June 28th. Finally, UBS Group set a $85.00 target price on Nike and gave the company a “neutral” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the stock. Nike presently has an average rating of “Buy” and an average target price of $89.86.

NYSE:NKE opened at $79.87 on Monday. The firm has a market cap of $127.53 billion, a P/E ratio of 32.08, a PEG ratio of 2.15 and a beta of 0.78. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00. The stock’s fifty day moving average price is $85.99.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.04). The firm had revenue of $10.18 billion for the quarter, compared to analyst estimates of $10.15 billion. Nike had a return on equity of 45.12% and a net margin of 10.30%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. On average, equities analysts forecast that Nike Inc will post 2.9 EPS for the current year.

Nike 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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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