Whitnell & Co. Grows Stock Position in Nike Inc (NYSE:NKE)

Whitnell & Co. lifted its stake in shares of Nike Inc (NYSE:NKE) by 53.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,209 shares of the footwear maker’s stock after purchasing an additional 1,809 shares during the quarter. Whitnell & Co.’s holdings in Nike were worth $489,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. grew its holdings in Nike by 12.3% during the third quarter. Lenox Wealth Management Inc. now owns 4,988 shares of the footwear maker’s stock worth $468,000 after acquiring an additional 546 shares during the period. BigSur Wealth Management LLC grew its holdings in Nike by 50.0% during the third quarter. BigSur Wealth Management LLC now owns 12,000 shares of the footwear maker’s stock worth $1,127,000 after acquiring an additional 4,000 shares during the period. Principle Wealth Partners LLC grew its holdings in Nike by 9.1% during the third quarter. Principle Wealth Partners LLC now owns 6,464 shares of the footwear maker’s stock worth $607,000 after acquiring an additional 540 shares during the period. Arthur M. Cohen & Associates LLC grew its holdings in Nike by 1.7% during the third quarter. Arthur M. Cohen & Associates LLC now owns 7,360 shares of the footwear maker’s stock worth $691,000 after acquiring an additional 120 shares during the period. Finally, Private Ocean LLC grew its holdings in Nike by 38.8% during the third quarter. Private Ocean LLC now owns 2,376 shares of the footwear maker’s stock worth $224,000 after acquiring an additional 664 shares during the period. Institutional investors and hedge funds own 65.37% of the company’s stock.

A number of brokerages recently weighed in on NKE. Piper Jaffray Companies upped their price objective on Nike from $97.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group upped their target price on Nike from $80.00 to $97.00 and gave the company a “hold” rating in a report on Wednesday, September 25th. UBS Group upped their target price on Nike from $87.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Daiwa Capital Markets set a $91.00 target price on Nike and gave the company a “hold” rating in a report on Friday, September 27th. Finally, ValuEngine lowered Nike from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $97.07.

NYSE NKE traded down $0.59 during trading hours on Friday, hitting $89.81. 4,461,037 shares of the company’s stock were exchanged, compared to its average volume of 6,516,054. The business’s 50 day moving average is $91.77 and its 200-day moving average is $86.32. Nike Inc has a 12-month low of $66.53 and a 12-month high of $96.87. The firm has a market capitalization of $140.31 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.29 and a current ratio of 2.01.

Nike (NYSE:NKE) last released its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $10.66 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Nike Inc will post 2.98 EPS for the current fiscal year.

In other news, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $93.42, for a total value of $15,414,300.00. Following the transaction, the chief executive officer now directly owns 2,054,511 shares in the company, valued at approximately $191,932,417.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Hilary K. Krane sold 32,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $89.30, for a total value of $2,902,250.00. The disclosure for this sale can be found here. Insiders have sold 436,445 shares of company stock worth $40,260,653 over the last quarter. 3.80% of the stock is currently owned by company insiders.

Nike 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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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