Prospera Financial Services Inc trimmed its holdings in Nike Inc (NYSE:NKE) by 5.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,235 shares of the footwear maker’s stock after selling 1,277 shares during the quarter. Prospera Financial Services Inc’s holdings in Nike were worth $1,279,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Nike by 4,252.6% in the second quarter. Janus Henderson Group PLC now owns 16,619,387 shares of the footwear maker’s stock worth $980,539,000 after buying an additional 16,237,557 shares during the period. Capital World Investors increased its position in Nike by 58.7% during the 2nd quarter. Capital World Investors now owns 21,779,409 shares of the footwear maker’s stock valued at $1,284,985,000 after purchasing an additional 8,058,601 shares during the period. Harding Loevner LP increased its position in Nike by 97.1% during the 3rd quarter. Harding Loevner LP now owns 12,151,210 shares of the footwear maker’s stock valued at $390,421,000 after purchasing an additional 5,987,728 shares during the period. Orbis Allan Gray Ltd purchased a new position in Nike during the 2nd quarter valued at $226,588,000. Finally, Alliancebernstein L.P. increased its position in Nike by 25.5% during the 2nd quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock valued at $880,730,000 after purchasing an additional 3,033,280 shares during the period. Hedge funds and other institutional investors own 62.78% of the company’s stock.
In other news, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $15,372,284.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $62.00, for a total transaction 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 have sold a total of 932,896 shares of company stock worth $59,594,217 in the last 90 days. Company insiders own 3.90% of the company’s stock.
Nike (NYSE:NKE) last posted its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS. equities research analysts forecast that Nike Inc will post 2.26 earnings per share for the current fiscal year.
A number of research analysts have issued reports on NKE shares. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Robert W. Baird reissued a “buy” rating on shares of Nike in a research report on Friday, October 13th. Citigroup reissued a “buy” rating and set a $65.00 price objective on shares of Nike in a research report on Monday, October 16th. Buckingham Research set a $64.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Goldman Sachs Group downgraded shares of Nike from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $52.30 to $54.00 in a research report on Thursday, October 19th. Two investment 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. Nike has a consensus rating of “Buy” and an average price target of $65.37.
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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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