SG Americas Securities LLC raised its holdings in shares of Nike Inc (NYSE:NKE) by 1,017.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,342 shares of the footwear maker’s stock after purchasing an additional 164,208 shares during the period. SG Americas Securities LLC’s holdings in Nike were worth $11,280,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Fiduciary Trust Co. increased its position in shares of Nike by 4.9% in the 2nd quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares during the period. Sterling Investment Advisors Ltd. boosted its holdings in Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after purchasing an additional 23,450 shares during the last quarter. Great Lakes Advisors LLC boosted its holdings in Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after purchasing an additional 4,030 shares during the last quarter. Amalgamated Bank boosted its holdings in Nike by 2.0% in the third quarter. Amalgamated Bank now owns 159,323 shares of the footwear maker’s stock valued at $8,261,000 after purchasing an additional 3,189 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its holdings in Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after purchasing an additional 17,285 shares during the last quarter. 62.78% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on NKE. B. Riley reaffirmed a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price target on shares of Nike in a report on Friday, December 22nd. Macquarie set a $72.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday, January 11th. Cowen set a $64.00 price target on shares of Nike and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, UBS Group set a $76.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the stock. Nike has a consensus rating of “Buy” and a consensus target price of $65.37.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. equities research analysts expect that Nike Inc will post 2.26 earnings per share for the current year.
In other news, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction of $620,000.00. Following the sale, the executive vice president now owns 23,248 shares of the company’s stock, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders have sold a total of 932,896 shares of company stock valued at $59,594,217 in the last 90 days. Insiders own 3.90% of the company’s stock.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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