Chemical Bank lessened its holdings in Nike, Inc. (NYSE:NKE) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,882 shares of the footwear maker’s stock after selling 4,090 shares during the quarter. Chemical Bank’s holdings in Nike were worth $2,884,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in NKE. V Wealth Management LLC bought a new position in shares of Nike during the 2nd quarter worth $100,000. Asset Planning Services Ltd. grew its position in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after buying an additional 7 shares in the last quarter. Rational Advisors LLC grew its position in shares of Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after buying an additional 321 shares in the last quarter. Kistler Tiffany Companies LLC grew its position in shares of Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after buying an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after buying an additional 201 shares in the last quarter. 62.24% of the stock is currently owned by institutional investors.
NKE has been the topic of a number of recent research reports. Jefferies Group LLC downgraded Nike to a “buy” rating in a research report on Tuesday, August 29th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 price target on the stock. in a research report on Monday, September 4th. Goldman Sachs Group, Inc. (The) downgraded Nike from a “buy” rating to a “neutral” rating and increased their price target for the stock from $52.30 to $54.00 in a research report on Thursday, October 19th. Telsey Advisory Group decreased their price objective on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Finally, Morgan Stanley upgraded Nike from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $56.00 to $68.00 in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $58.93.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at $90,124,612.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Nike, Inc. (NYSE NKE) opened at $56.09 on Monday. Nike, Inc. has a 1 year low of $49.75 and a 1 year high of $60.53. The company has a market capitalization of $91,511.79, a P/E ratio of 23.87, a P/E/G ratio of 2.62 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the business posted $0.73 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. analysts forecast that Nike, Inc. will post 2.29 EPS for the current year.
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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