BlackRock Inc. Has $4.73 Billion Position in Nike, Inc. (NKE)

BlackRock Inc. trimmed its position in Nike, Inc. (NYSE:NKE) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,224,188 shares of the footwear maker’s stock after selling 621,950 shares during the period. BlackRock Inc. owned approximately 6.11% of Nike worth $4,733,227,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NKE. Telos Capital Management Inc. grew its position in Nike by 2.5% in the 1st quarter. Telos Capital Management Inc. now owns 47,656 shares of the footwear maker’s stock valued at $2,656,000 after buying an additional 1,164 shares during the last quarter. Tandem Investment Advisors Inc. lifted its holdings in Nike by 12.7% in the first quarter. Tandem Investment Advisors Inc. now owns 109,384 shares of the footwear maker’s stock valued at $6,096,000 after acquiring an additional 12,327 shares during the period. Lyell Wealth Management LP lifted its holdings in Nike by 11.6% in the first quarter. Lyell Wealth Management LP now owns 49,802 shares of the footwear maker’s stock valued at $2,784,000 after acquiring an additional 5,170 shares during the period. Buckingham Asset Management LLC lifted its holdings in Nike by 30.6% in the first quarter. Buckingham Asset Management LLC now owns 6,752 shares of the footwear maker’s stock valued at $376,000 after acquiring an additional 1,582 shares during the period. Finally, Wills Financial Group Inc. lifted its holdings in Nike by 2.8% in the first quarter. Wills Financial Group Inc. now owns 27,346 shares of the footwear maker’s stock valued at $1,524,000 after acquiring an additional 743 shares during the period. Hedge funds and other institutional investors own 62.24% of the company’s stock.

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Shares of Nike, Inc. (NYSE NKE) opened at $55.98 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The stock has a market capitalization of $91,218.12, a P/E ratio of 23.79, a P/E/G ratio of 2.61 and a beta of 0.60. Nike, Inc. has a 52-week low of $49.75 and a 52-week high of $60.53.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. research analysts predict that Nike, Inc. will post 2.29 earnings per share for the current year.

In related news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s 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 transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at $90,124,612.08. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

NKE has been the subject of a number of recent analyst reports. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price for the company in a report on Wednesday, October 4th. Jefferies Group LLC downgraded Nike from a “buy” rating to a “hold” rating and reduced their target price for the company from $75.00 to $60.00 in a report on Monday, August 21st. Canaccord Genuity reissued a “hold” rating and issued a $50.00 target price (down previously from $51.00) on shares of Nike in a report on Wednesday, September 27th. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $47.00 target price (down previously from $54.00) on shares of Nike in a report on Wednesday, September 27th. Finally, Instinet reissued a “buy” rating and issued a $62.00 target price (up previously from $59.00) on shares of Nike in a report on Wednesday, September 27th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $58.93.

About Nike

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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