Exencial Wealth Advisors LLC reduced its holdings in shares of Nike Inc (NYSE:NKE) by 6.0% in the third quarter, HoldingsChannel.com reports. The fund owned 73,026 shares of the footwear maker’s stock after selling 4,666 shares during the quarter. Nike accounts for 1.4% of Exencial Wealth Advisors LLC’s holdings, making the stock its 14th biggest position. Exencial Wealth Advisors LLC’s holdings in Nike were worth $6,187,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of NKE. Jennison Associates LLC grew its holdings in Nike by 26.5% during the 2nd quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock worth $1,174,533,000 after acquiring an additional 3,087,189 shares during the period. American Century Companies Inc. boosted its position in shares of Nike by 42.4% during the 3rd quarter. American Century Companies Inc. now owns 5,309,879 shares of the footwear maker’s stock worth $449,853,000 after purchasing an additional 1,582,009 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Nike by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after purchasing an additional 1,273,548 shares in the last quarter. Millennium Management LLC boosted its position in shares of Nike by 2,820.1% during the 2nd quarter. Millennium Management LLC now owns 1,169,503 shares of the footwear maker’s stock worth $93,186,000 after purchasing an additional 1,129,453 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Nike during the 2nd quarter worth about $1,039,000. Hedge funds and other institutional investors own 64.35% of the company’s stock.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following 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. In the last three months, 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. Nike Inc has a fifty-two week low of $55.08 and a fifty-two week high of $86.04. The stock has a market capitalization of $121.60 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. The company has a current ratio of 2.31, a quick ratio of 1.53 and a debt-to-equity ratio of 0.39.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. During the same quarter last year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Nike Inc will post 2.62 earnings per share for the current year.
A number of equities analysts have recently issued reports on NKE shares. HSBC set a $92.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, September 6th. Robert W. Baird reissued a “buy” rating and set a $90.00 price objective on shares of Nike in a research report on Monday, September 3rd. Macquarie set a $87.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, August 28th. Stifel Nicolaus reissued a “buy” rating and set a $90.00 price objective on shares of Nike in a research report on Thursday, August 23rd. Finally, Morgan Stanley reissued a “buy” rating and set a $88.00 price objective on shares of Nike in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $85.63.
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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