Cambridge Investment Research Advisors Inc. cut its stake in shares of Nike Inc (NYSE:NKE) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,497 shares of the footwear maker’s stock after selling 2,889 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Nike were worth $6,396,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Nike during the second quarter valued at $104,000. BDO Wealth Advisors LLC boosted its position in shares of Nike by 1,044.3% during 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 during the last quarter. CSat Investment Advisory L.P. purchased a new stake in shares of Nike during the second quarter valued at $119,000. Polaris Greystone Financial Group LLC purchased a new stake in shares of Nike during the third quarter valued at $119,000. Finally, Global Trust Asset Management LLC boosted its position in shares of Nike by 1,253.8% during 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 during the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Wednesday, September 19th. The stock was 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 of the company’s stock, valued at approximately $2,293,203.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction dated 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 transaction, the executive vice president now directly 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 ninety days, insiders have sold 50,000 shares of company stock worth $4,219,350. Insiders own 3.90% of the company’s stock.
Shares of NYSE:NKE opened at $76.36 on Friday. The stock has a market capitalization of $121.60 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 2.39 and a beta of 0.77. 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 52-week low of $55.08 and a 52-week high of $86.04.
Nike (NYSE:NKE) last posted its quarterly earnings data 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. Nike had a return on equity of 40.69% and a net margin of 5.57%. The firm 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 firm earned $0.57 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Nike Inc will post 2.62 EPS for the current year.
Several equities research analysts recently commented on NKE shares. Needham & Company LLC reaffirmed a “neutral” rating on shares of Nike in a research report on Thursday, September 13th. HSBC set a $92.00 price objective on Nike and gave the company a “buy” rating in a research report on Thursday, September 6th. Daiwa Capital Markets set a $85.00 price objective on Nike and gave the company a “hold” rating in a research report on Monday, October 1st. Pivotal Research set a $85.00 price objective on Nike and gave the company a “hold” rating in a research report on Friday, September 21st. Finally, Oppenheimer raised Nike from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $85.63.
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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