Northwestern Mutual Wealth Management Co. raised its stake in shares of Nike Inc (NYSE:NKE) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,987 shares of the footwear maker’s stock after buying an additional 1,968 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Nike were worth $15,671,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of NKE. Fuller & Thaler Asset Management Inc. bought a new position in shares of Nike in the second quarter worth about $104,000. BDO Wealth Advisors LLC grew its position in Nike by 1,044.3% during the second quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock worth $111,000 after buying an additional 1,274 shares in the last quarter. CSat Investment Advisory L.P. acquired a new stake in Nike during the second quarter worth about $119,000. Polaris Greystone Financial Group LLC acquired a new stake in Nike during the third quarter worth about $119,000. Finally, Global Trust Asset Management LLC grew its position in 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 worth $149,000 after buying an additional 1,630 shares in the last quarter. Institutional investors own 64.35% of the company’s stock.
Shares of NKE opened at $77.53 on Tuesday. The company has a market capitalization of $121.62 billion, a PE ratio of 32.04, a price-to-earnings-growth 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 one year low of $54.89 and a one year high of $86.04.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion for 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%. Nike’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. On average, sell-side analysts expect that Nike Inc will post 2.62 EPS for the current fiscal year.
In other news, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction that occurred on 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 directly 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 can be accessed through this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction that occurred on 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 $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 over the last three months. 3.90% of the stock is owned by company insiders.
NKE has been the topic of a number of recent research reports. Needham & Company LLC reissued a “neutral” rating on shares of Nike in a research report on Thursday, September 13th. HSBC set a $92.00 target price on Nike and gave the stock a “buy” rating in a research report on Thursday, September 6th. Daiwa Capital Markets set a $85.00 target price on Nike and gave the stock a “hold” rating in a research report on Monday, October 1st. Pivotal Research set a $85.00 target price on Nike and gave the stock 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 target price on the stock in a research report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price 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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