Welch & Forbes LLC Boosts Stock Position in Nike Inc (NYSE:NKE)

Welch & Forbes LLC raised its stake in Nike Inc (NYSE:NKE) by 3.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,076 shares of the footwear maker’s stock after purchasing an additional 765 shares during the period. Welch & Forbes LLC’s holdings in Nike were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Nuveen Asset Management LLC grew its stake in Nike by 6,608.4% in the second quarter. Nuveen Asset Management LLC now owns 14,363,870 shares of the footwear maker’s stock valued at $1,205,847,000 after purchasing an additional 14,149,753 shares during the last quarter. FMR LLC boosted its holdings in Nike by 27.0% in the first quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after acquiring an additional 4,908,916 shares in the last quarter. Jennison Associates LLC boosted its holdings in Nike by 13.6% in the second quarter. Jennison Associates LLC now owns 23,510,331 shares of the footwear maker’s stock worth $1,973,692,000 after acquiring an additional 2,809,878 shares in the last quarter. BlackRock Inc. boosted its holdings in Nike by 2.2% in the second quarter. BlackRock Inc. now owns 87,672,220 shares of the footwear maker’s stock worth $7,360,079,000 after acquiring an additional 1,883,150 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Nike by 1.4% in the second quarter. Vanguard Group Inc. now owns 105,374,269 shares of the footwear maker’s stock worth $8,846,169,000 after acquiring an additional 1,469,583 shares in the last quarter. Institutional investors own 65.04% of the company’s stock.

In other Nike news, Director John C. Lechleiter sold 5,406 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.13, for a total value of $471,024.78. Following the completion of the transaction, the director now directly owns 68,457 shares of the company’s stock, valued at $5,964,658.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark G. Parker sold 165,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $93.42, for a total value of $15,414,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,054,511 shares of the company’s stock, valued at $191,932,417.62. The disclosure for this sale can be found here. Insiders sold 505,579 shares of company stock valued at $45,961,980 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

NKE has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Nike from $96.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Susquehanna Bancshares set a $106.00 price target on Nike and gave the stock a “buy” rating in a report on Tuesday. Guggenheim raised their price target on Nike from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Needham & Company LLC raised their price target on Nike from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and issued a $100.00 price target (up previously from $96.00) on shares of Nike in a report on Wednesday, September 25th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $95.92.

Nike stock opened at $93.88 on Friday. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. Nike Inc has a 52 week low of $66.53 and a 52 week high of $94.75. The company has a market capitalization of $144.97 billion, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 2.46 and a beta of 0.85. The stock has a 50-day moving average price of $88.07 and a 200 day moving average price of $85.38.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.15. Nike had a return on equity of 47.92% and a net margin of 10.81%. The company had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the previous year, the company posted $0.67 earnings per share. Nike’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that Nike Inc will post 2.97 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Friday, August 30th. Nike’s payout ratio is presently 35.34%.

About Nike

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.

Read More: Short Selling Stocks and Day Traders

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit