Public Employees Retirement Association of Colorado lowered its stake in shares of Nike Inc (NYSE:NKE) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,851,945 shares of the footwear maker’s stock after selling 2,231 shares during the period. Nike comprises 1.1% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 18th largest holding. Public Employees Retirement Association of Colorado owned 0.12% of Nike worth $173,935,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Main Street Research LLC grew its stake in Nike by 3.3% during the third quarter. Main Street Research LLC now owns 3,440 shares of the footwear maker’s stock worth $323,000 after buying an additional 109 shares during the period. Asset Dedication LLC boosted its stake in Nike by 0.6% during the 3rd quarter. Asset Dedication LLC now owns 20,144 shares of the footwear maker’s stock valued at $1,898,000 after acquiring an additional 114 shares during the last quarter. Strategic Advisors LLC boosted its stake in Nike by 3.3% during the 3rd quarter. Strategic Advisors LLC now owns 3,713 shares of the footwear maker’s stock valued at $349,000 after acquiring an additional 118 shares during the last quarter. Trustcore Financial Services LLC boosted its stake in Nike by 2.9% during the 2nd quarter. Trustcore Financial Services LLC now owns 4,261 shares of the footwear maker’s stock valued at $358,000 after acquiring an additional 120 shares during the last quarter. Finally, Ballentine Partners LLC boosted its stake in Nike by 0.5% during the 3rd quarter. Ballentine Partners LLC now owns 23,415 shares of the footwear maker’s stock valued at $2,199,000 after acquiring an additional 120 shares during the last quarter. 65.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Nike news, CFO Andrew Campion sold 6,301 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total value of $547,934.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Elliott Hill sold 2,770 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total transaction of $240,879.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 436,445 shares of company stock valued at $40,260,653. Corporate insiders own 3.80% of the company’s stock.
NKE has been the topic of a number of research reports. Exane BNP Paribas initiated coverage on shares of Nike in a report on Friday, October 4th. They set an “underperform” rating and a $82.00 target price on the stock. Bank of America raised shares of Nike from an “underperform” rating to a “neutral” rating and set a $98.00 target price on the stock in a report on Monday, October 14th. Wells Fargo & Co increased their price objective on shares of Nike from $85.00 to $91.00 and gave the stock a “market perform” rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Robert W. Baird set a $87.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, ValuEngine cut shares of Nike from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have issued a buy rating to the company. Nike presently has an average rating of “Buy” and an average price target of $97.07.
Nike stock traded down $0.59 during trading hours on Friday, hitting $89.81. 4,461,037 shares of the company traded hands, compared to its average volume of 6,516,054. The firm has a market cap of $140.31 billion, a P/E ratio of 36.07, a P/E/G ratio of 2.31 and a beta of 0.83. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The firm’s 50-day simple moving average is $91.77 and its two-hundred day simple moving average is $86.32. Nike Inc has a 1-year low of $66.53 and a 1-year high of $96.87.
Nike (NYSE:NKE) last released its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.15. Nike had a net margin of 10.81% and a return on equity of 47.92%. The firm had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the company earned $0.67 EPS. Nike’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Nike Inc will post 2.98 earnings per share for the current 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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