JGP Wealth Management LLC decreased its stake in shares of Nike Inc (NYSE:NKE) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 43,914 shares of the footwear maker’s stock after selling 1,242 shares during the quarter. Nike accounts for about 1.3% of JGP Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. JGP Wealth Management LLC’s holdings in Nike were worth $3,256,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. Arlington Financial Advisors LLC boosted its position in Nike by 4.0% in the fourth quarter. Arlington Financial Advisors LLC now owns 36,466 shares of the footwear maker’s stock valued at $2,711,000 after buying an additional 1,417 shares in the last quarter. Hotaling Investment Management LLC acquired a new position in Nike in the fourth quarter valued at about $1,564,000. Highland Capital Management LLC boosted its position in Nike by 131.7% in the fourth quarter. Highland Capital Management LLC now owns 70,888 shares of the footwear maker’s stock valued at $5,256,000 after buying an additional 40,289 shares in the last quarter. Granite Investment Advisors LLC boosted its position in Nike by 53.8% in the fourth quarter. Granite Investment Advisors LLC now owns 39,199 shares of the footwear maker’s stock valued at $2,906,000 after buying an additional 13,720 shares in the last quarter. Finally, Norway Savings Bank boosted its position in Nike by 17.4% in the fourth quarter. Norway Savings Bank now owns 5,260 shares of the footwear maker’s stock valued at $390,000 after buying an additional 780 shares in the last quarter. Institutional investors and hedge funds own 64.78% of the company’s stock.
In other news, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total value of $12,300,000.00. Following the transaction, the chairman now directly owns 1,539,963 shares of the company’s stock, valued at $126,276,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Slusher sold 200,000 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the transaction, the executive vice president now directly owns 284,805 shares in the company, valued at $21,089,810.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 800,000 shares of company stock valued at $61,862,000. Corporate insiders own 3.90% of the company’s stock.
NKE has been the topic of a number of recent analyst reports. Morgan Stanley set a $103.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, December 11th. Bank of America set a $55.00 target price on shares of Nike and gave the stock a “sell” rating in a research report on Sunday, December 30th. Oppenheimer upgraded shares of 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. JPMorgan Chase & Co. reiterated a “buy” rating and set a $85.00 target price on shares of Nike in a research report on Thursday, December 27th. Finally, UBS Group reiterated a “neutral” rating on shares of Nike in a research report on Friday, November 16th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $84.19.
NKE traded down $0.03 during trading hours on Friday, hitting $82.36. 3,786,506 shares of the company’s stock were exchanged, compared to its average volume of 5,910,714. The stock has a market capitalization of $129.62 billion, a price-to-earnings ratio of 34.03, a PEG ratio of 2.54 and a beta of 0.69. The company has a current ratio of 2.14, a quick ratio of 1.40 and a debt-to-equity ratio of 0.40. Nike Inc has a 1-year low of $62.84 and a 1-year high of $86.04.
Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. As a group, research analysts predict that Nike Inc will post 2.63 earnings per share for the current fiscal 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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