Flossbach Von Storch AG trimmed its stake in Nike Inc (NYSE:NKE) by 2.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 261,141 shares of the footwear maker’s stock after selling 5,709 shares during the quarter. Flossbach Von Storch AG’s holdings in Nike were worth $22,124,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Nike during the second quarter valued at about $104,000. BDO Wealth Advisors LLC raised its stake 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 purchasing an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of Nike during the second quarter valued at about $119,000. Polaris Greystone Financial Group LLC bought a new stake in shares of Nike during the third quarter valued at about $119,000. Finally, Global Trust Asset Management LLC raised its stake 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 purchasing an additional 1,630 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.
A number of equities research analysts recently weighed in on NKE shares. Morgan Stanley started coverage on shares of Nike in a research note on Wednesday, August 1st. They set an “overweight” rating and a $88.00 price objective on the stock. Wells Fargo & Co set a $82.00 price objective on shares of Nike and gave the company a “neutral” rating in a research note on Monday, August 6th. Macquarie set a $87.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Monday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of 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 shares of Nike from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $93.00 in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $85.63.
In related 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 value of $1,360,800.00. Following the transaction, the director now owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction dated Tuesday, September 11th. The stock was 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 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 three months. 3.90% of the stock is currently owned by company insiders.
Shares of NKE opened at $76.36 on Friday. The stock has a market capitalization of $121.60 billion, a P/E ratio of 31.55, a P/E/G ratio of 2.39 and a beta of 0.77. Nike Inc has a 1-year low of $55.08 and a 1-year high of $86.04. 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 (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. The firm 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%. Nike’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. As a group, equities analysts forecast 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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