Nike Inc (NKE) Position Boosted by Legal & General Group Plc

Legal & General Group Plc raised its stake in Nike Inc (NYSE:NKE) by 4.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,818,620 shares of the footwear maker’s stock after purchasing an additional 305,404 shares during the period. Legal & General Group Plc owned about 0.41% of Nike worth $353,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NKE. Green Square Capital LLC purchased a new position in Nike during the 1st quarter worth approximately $228,000. Bath Savings Trust Co grew its stake in Nike by 0.4% during the 2nd quarter. Bath Savings Trust Co now owns 213,822 shares of the footwear maker’s stock worth $12,615,000 after buying an additional 787 shares during the last quarter. Alecta Pensionsforsakring Omsesidigt grew its stake in Nike by 20.7% during the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,839,900 shares of the footwear maker’s stock worth $344,554,000 after buying an additional 1,000,000 shares during the last quarter. VNBTrust National Association purchased a new position in Nike during the 2nd quarter worth approximately $219,000. Finally, Independent Portfolio Consultants Inc. grew its stake in Nike by 315.9% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 4,488 shares of the footwear maker’s stock worth $265,000 after buying an additional 3,409 shares during the last quarter. 62.97% of the stock is currently owned by institutional investors.

In related news, EVP John F. Slusher sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $63.09, for a total value of $6,309,000.00. Following the transaction, the executive vice president now owns 268,169 shares in the company, valued at $16,918,782.21. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 10,000 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the transaction, the executive vice president now owns 23,248 shares in the company, valued at approximately $1,441,376. The disclosure for this sale can be found here. Insiders sold 932,896 shares of company stock valued at $59,594,217 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Several research analysts have weighed in on NKE shares. Pivotal Research started coverage on Nike in a research note on Thursday, October 5th. They issued a “hold” rating and a $56.00 target price on the stock. Zacks Investment Research upgraded Nike from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Robert W. Baird reiterated a “buy” rating on shares of Nike in a research note on Friday, October 13th. Citigroup restated a “buy” rating and issued a $65.00 price target on shares of Nike in a research note on Monday, October 16th. Finally, Buckingham Research set a $64.00 price target on Nike and gave the company a “buy” rating in a research note on Tuesday, October 17th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.37.

Shares of Nike Inc (NYSE NKE) traded down $0.43 during midday trading on Friday, hitting $67.22. The stock had a trading volume of 9,348,290 shares, compared to its average volume of 7,518,596. Nike Inc has a 52 week low of $50.35 and a 52 week high of $68.83. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67. The stock has a market capitalization of $109,690.00, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 3.09 and a beta of 0.68.

Nike (NYSE:NKE) last issued its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The company’s revenue was up 4.6% compared to the same quarter last year. sell-side analysts expect that Nike Inc will post 2.25 earnings per share for the current fiscal year.

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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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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