Boston Advisors LLC lowered its stake in Nike Inc (NYSE:NKE) by 35.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,462 shares of the footwear maker’s stock after selling 3,619 shares during the quarter. Boston Advisors LLC’s holdings in Nike were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Field & Main Bank bought a new stake in Nike during the 4th quarter valued at approximately $100,000. Asset Planning Services Ltd. raised its stake in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares during the period. Willingdon Wealth Management bought a new stake in Nike during the 3rd quarter valued at approximately $114,000. Atlantic Trust LLC bought a new stake in Nike during the 2nd quarter valued at approximately $136,000. Finally, Howe & Rusling Inc. raised its stake in Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the insider now owns 165,591 shares in the company, valued at approximately $10,448,792.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $67.66, for a total value of $6,766,000.00. Following the transaction, the insider now owns 227,199 shares of the company’s stock, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 932,896 shares of company stock valued at $59,594,217. 3.90% of the stock is owned by company insiders.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. research analysts forecast that Nike Inc will post 2.26 earnings per share for the current year.
NKE has been the subject of several research analyst reports. Goldman Sachs Group cut Nike from a “buy” rating to a “neutral” rating and raised their price target for the company from $52.30 to $54.00 in a report on Thursday, October 19th. Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $58.95 price target for the company in a report on Monday, October 30th. Robert W. Baird restated a “buy” rating on shares of Nike in a report on Friday, October 13th. Argus upgraded Nike from a “hold” rating to a “buy” rating and raised their price target for the company from $50.35 to $64.46 in a report on Thursday, December 14th. Finally, Forward View upgraded Nike from a “sell” rating to a “hold” rating in a report on Sunday, October 29th. 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 currently has an average rating of “Buy” and an average price target of $65.37.
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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.
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