Public Employees Retirement Association of Colorado decreased its stake in Nike Inc (NYSE:NKE) by 0.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,851,945 shares of the footwear maker’s stock after selling 2,231 shares during the period. Nike makes up 1.1% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 18th largest holding. Public Employees Retirement Association of Colorado’s holdings in Nike were worth $173,935,000 as of its most recent SEC filing.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Several other institutional investors also recently made changes to their positions in the company. Buckingham Capital Management Inc. boosted its position in shares of Nike by 1.2% during the first quarter. Buckingham Capital Management Inc. now owns 20,387 shares of the footwear maker’s stock valued at $1,717,000 after buying an additional 243 shares during the last quarter. Neville Rodie & Shaw Inc. boosted its position in shares of Nike by 31.8% during the second quarter. Neville Rodie & Shaw Inc. now owns 60,080 shares of the footwear maker’s stock valued at $5,044,000 after buying an additional 14,482 shares during the period. Bath Savings Trust Co boosted its position in shares of Nike by 0.9% during the second quarter. Bath Savings Trust Co now owns 205,268 shares of the footwear maker’s stock valued at $17,232,000 after buying an additional 1,787 shares during the period. WINTON GROUP Ltd boosted its position in shares of Nike by 19.9% during the second quarter. WINTON GROUP Ltd now owns 15,754 shares of the footwear maker’s stock valued at $1,323,000 after buying an additional 2,611 shares during the period. Finally, Centric Wealth Management boosted its position in shares of Nike by 4.5% during the second quarter. Centric Wealth Management now owns 3,485 shares of the footwear maker’s stock valued at $293,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 65.37% of the company’s stock.
NKE has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and set a $100.00 target price (up previously from $96.00) on shares of Nike in a research report on Wednesday, September 25th. Argus boosted their target price on Nike from $94.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. They noted that the move was a valuation call. Citigroup boosted their target price on Nike from $100.00 to $103.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Co boosted their target price on Nike from $85.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, September 25th. They noted that the move was a valuation call. Finally, Daiwa Capital Markets set a $91.00 target price on Nike and gave the company a “hold” rating in a research report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $97.07.
Shares of NYSE NKE traded down $0.59 during trading hours on Friday, reaching $89.81. The stock 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 firm has a market cap of $140.31 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 2.31 and a beta of 0.83. The business’s fifty day moving average price is $91.77 and its two-hundred day moving average price is $86.32. Nike Inc has a 52-week low of $66.53 and a 52-week high of $96.87.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.15. The firm had revenue of $10.66 billion during the quarter, compared to analyst estimates of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. Nike’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Equities research analysts anticipate that Nike Inc will post 2.98 earnings per share for the current fiscal year.
In related news, CEO Mark G. Parker sold 165,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $93.42, for a total value of $15,414,300.00. Following the completion of the transaction, the chief executive officer now owns 2,054,511 shares of the company’s stock, valued at $191,932,417.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hilary K. Krane sold 32,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $89.30, for a total transaction of $2,902,250.00. The disclosure for this sale can be found here. Insiders sold 436,445 shares of company stock valued at $40,260,653 in the last three months. 3.80% of the stock is currently owned by insiders.
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: Dividend Aristocrat Index
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).