November 10, 2019 at 9:55 pm

Nike Inc (NYSE:NKE) Position Increased by Whitnell & Co.

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Whitnell & Co. increased its stake in Nike Inc (NYSE:NKE) by 53.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,209 shares of the footwear maker’s stock after acquiring an additional 1,809 shares during the period. Whitnell & Co.’s holdings in Nike were worth $489,000 as of its most recent filing with the Securities and Exchange Commission.

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Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC bought a new stake in Nike during the 3rd quarter valued at $26,000. Marquette Asset Management LLC bought a new stake in Nike during the 3rd quarter valued at $28,000. Candriam Luxembourg S.C.A. raised its stake in Nike by 97.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 145,904 shares in the last quarter. Hexavest Inc. bought a new stake in Nike during the 2nd quarter valued at $30,000. Finally, Litman Gregory Asset Management LLC bought a new stake in Nike during the 2nd quarter valued at $31,000. 65.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NKE traded down $0.59 during mid-day trading on Friday, reaching $89.81. The company had a trading volume of 4,461,037 shares, compared to its average volume of 6,516,054. The company has a current ratio of 2.01, a quick ratio of 1.29 and a debt-to-equity ratio of 0.67. The stock has a market cap of $140.31 billion, a PE ratio of 36.07, a P/E/G ratio of 2.31 and a beta of 0.83. The company has a 50-day moving average price of $91.77 and a two-hundred day moving average price of $86.32. Nike Inc has a 1-year low of $66.53 and a 1-year high of $96.87.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.15. The business had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. On average, research analysts expect that Nike Inc will post 2.98 EPS for the current year.

Several brokerages have weighed in on NKE. UBS Group lifted their target price on Nike from $87.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wells Fargo & Co lifted their target price on Nike from $85.00 to $91.00 and gave the company a “market perform” rating in a research note on Wednesday, September 25th. They noted that the move was a valuation call. Jefferies Financial Group lifted their target price on Nike from $80.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, September 25th. Exane BNP Paribas began coverage on Nike in a research note on Friday, October 4th. They set an “underperform” rating and a $82.00 target price on the stock. Finally, BNP Paribas began coverage on Nike in a research note on Thursday, October 3rd. They set an “underperform” rating and a $82.50 target price on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company. Nike has an average rating of “Buy” and an average target price of $97.07.

In related news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total value of $1,527,110.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Elliott Hill sold 2,770 shares of Nike stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. Insiders sold a total of 436,445 shares of company stock worth $40,260,653 over the last 90 days. Insiders own 3.80% of the company’s stock.

Nike Company 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.

Further Reading: Different Types of Derivatives

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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