Nike Inc (NKE) Position Lowered by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. lowered its position in Nike Inc (NYSE:NKE) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,606 shares of the footwear maker’s stock after selling 2,822 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Nike were worth $3,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Field & Main Bank acquired a new position in Nike in the 4th quarter worth $100,000. Willingdon Wealth Management acquired a new position in Nike in the 3rd quarter worth $114,000. Atlantic Trust LLC acquired a new position in Nike in the 2nd quarter worth $136,000. Howe & Rusling Inc. boosted its stake in Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares during the period. Finally, Horan Capital Advisors LLC. acquired a new position in Nike in the 3rd quarter worth $161,000. Institutional investors and hedge funds own 62.65% of the company’s stock.

In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the transaction, the executive vice president now directly owns 23,248 shares of the company’s stock, valued at $1,441,376. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the transaction, the chairman now directly owns 1,502,830 shares in the company, valued at $97,683,950. The disclosure for this sale can be found here. Insiders have sold 932,896 shares of company stock worth $59,594,217 over the last ninety days. Insiders own 3.90% of the company’s stock.

NKE has been the subject of a number of recent research reports. Goldman Sachs Group downgraded shares of Nike from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $52.30 to $54.00 in a research note on Thursday, October 19th. Jefferies Group set a $48.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Friday, October 20th. Piper Jaffray Companies set a $50.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Pivotal Research set a $56.00 price objective on shares of Nike and gave the stock a “hold” rating in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.37.

Nike Inc (NYSE NKE) opened at $67.96 on Thursday. The firm has a market cap of $110,880.00, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.98 and a beta of 0.68. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $68.83.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue was up 4.6% on a year-over-year basis. equities research analysts anticipate that Nike Inc will post 2.26 earnings per share for the current year.

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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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