Reliant Investment Management LLC decreased its position in shares of Nike, Inc. (NYSE:NKE) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,900 shares of the footwear maker’s stock after selling 2,105 shares during the period. Nike makes up approximately 2.4% of Reliant Investment Management LLC’s investment portfolio, making the stock its 25th biggest position. Reliant Investment Management LLC’s holdings in Nike were worth $3,062,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Balasa Dinverno & Foltz LLC raised its stake in shares of Nike by 2.1% during the first quarter. Balasa Dinverno & Foltz LLC now owns 8,207 shares of the footwear maker’s stock valued at $457,000 after acquiring an additional 170 shares in the last quarter. Montecito Bank & Trust raised its stake in shares of Nike by 0.3% during the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after acquiring an additional 24 shares in the last quarter. Allegis Investment Advisors LLC raised its stake in shares of Nike by 177.5% during the first quarter. Allegis Investment Advisors LLC now owns 16,717 shares of the footwear maker’s stock valued at $932,000 after acquiring an additional 10,692 shares in the last quarter. Lincoln National Corp bought a new stake in shares of Nike during the first quarter valued at approximately $353,000. Finally, Karp Capital Management Corp bought a new position in Nike in the first quarter worth approximately $44,293,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Nike, Inc. (NYSE NKE) opened at $55.98 on Wednesday. Nike, Inc. has a 12-month low of $49.75 and a 12-month high of $60.53. 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 firm has a market cap of $91,218.12, a PE ratio of 23.79, a PEG ratio of 2.61 and a beta of 0.60.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. sell-side analysts expect 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 firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now owns 25,660 shares of the company’s stock, valued at $1,371,527. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
NKE has been the subject of a number of recent research reports. raised shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective for the company in a research note on Wednesday, October 4th. Jefferies Group LLC lowered shares of Nike from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $60.00 in a report on Monday, August 21st. reaffirmed a “hold” rating and issued a $50.00 price target (down from $51.00) on shares of Nike in a report on Wednesday, September 27th. Susquehanna Bancshares Inc reiterated a “hold” rating and issued a $47.00 price objective (down previously from $54.00) on shares of Nike in a research report on Wednesday, September 27th. Finally, restated a “buy” rating and set a $62.00 price target (up previously from $59.00) on shares of Nike in a research report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $58.93.
Nike Company Profile
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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