Robeco Institutional Asset Management B.V. boosted its stake in Nike Inc (NYSE:NKE) by 22.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,312,514 shares of the footwear maker’s stock after buying an additional 236,665 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.08% of Nike worth $111,201,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in NKE. Jennison Associates LLC boosted its stake in Nike by 26.5% in the 2nd quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock valued at $1,174,533,000 after buying an additional 3,087,189 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Nike by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after buying an additional 1,273,548 shares in the last quarter. Millennium Management LLC boosted its stake in Nike by 2,820.1% in the 2nd quarter. Millennium Management LLC now owns 1,169,503 shares of the footwear maker’s stock valued at $93,186,000 after buying an additional 1,129,453 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in Nike in the 2nd quarter valued at $1,039,000. Finally, Bessemer Group Inc. boosted its stake in Nike by 32.5% in the 2nd quarter. Bessemer Group Inc. now owns 3,830,654 shares of the footwear maker’s stock valued at $305,227,000 after buying an additional 940,411 shares in the last quarter. 64.35% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Wedbush boosted their price target on Nike from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, September 10th. Morgan Stanley reaffirmed a “buy” rating and issued a $88.00 price target on shares of Nike in a research note on Wednesday, September 12th. Wells Fargo & Co set a $82.00 price target on Nike and gave the company a “neutral” rating in a research note on Monday, August 6th. Telsey Advisory Group boosted their price target on Nike from $87.00 to $92.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $84.00 price target (up previously from $76.00) on shares of Nike in a research note on Wednesday, September 19th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $85.63.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now owns 26,963 shares in the company, valued at $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 18th. The stock was sold at an average price of $85.00, for a total value of $1,445,000.00. Following the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at approximately $8,902,645. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by corporate insiders.
NKE stock opened at $76.36 on Friday. The firm has a market cap of $123.82 billion, a PE ratio of 31.55, a PEG ratio of 2.44 and a beta of 0.77. Nike Inc has a twelve month low of $55.08 and a twelve month high of $86.04. The company has a quick ratio of 1.53, a current ratio of 2.31 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.92 billion. Nike had a return on equity of 40.69% and a net margin of 5.57%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts predict that Nike Inc will post 2.62 earnings per share for the current fiscal year.
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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