Mitchell Mcleod Pugh & Williams Inc. Sells 70 Shares of Nike, Inc. (NYSE:NKE)
Mitchell Mcleod Pugh & Williams Inc. cut its stake in shares of Nike, Inc. (NYSE:NKE) by 0.5% during the second quarter, Holdings Channel reports. The fund owned 13,941 shares of the footwear maker’s stock after selling 70 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Nike were worth $823,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. V Wealth Management LLC purchased a new position in shares of Nike during the second quarter worth approximately $100,000. Crestwood Advisors Group LLC purchased a new position in shares of Nike during the first quarter worth approximately $117,000. Webster Bank N. A. increased its position in shares of Nike by 75.5% in the first quarter. Webster Bank N. A. now owns 2,092 shares of the footwear maker’s stock worth $117,000 after buying an additional 900 shares in the last quarter. Gierl Augustine Investment Management Inc increased its position in shares of Nike by 5.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 2,121 shares of the footwear maker’s stock worth $118,000 after buying an additional 107 shares in the last quarter. Finally, Asset Planning Services Ltd. purchased a new position in shares of Nike during the first quarter worth approximately $118,000. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Nike, Inc. (NYSE NKE) traded down 0.18% during trading on Tuesday, hitting $59.68. The stock had a trading volume of 2,372,285 shares. Nike, Inc. has a one year low of $49.01 and a one year high of $60.33. The stock’s 50-day moving average is $56.38 and its 200 day moving average is $55.29. The firm has a market cap of $98.07 billion, a price-to-earnings ratio of 23.78 and a beta of 0.59.
Nike (NYSE:NKE) last released its earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a return on equity of 34.18% and a net margin of 12.34%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 earnings per share. Equities analysts anticipate that Nike, Inc. will post $2.42 earnings per share for the current year.
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A number of brokerages have commented on NKE. Stifel Nicolaus set a $66.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Saturday, July 22nd. Guggenheim reiterated a “buy” rating and issued a $70.00 target price on shares of Nike in a report on Monday, July 24th. Cowen and Company set a $54.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Friday. Finally, Barclays PLC reiterated an “overweight” rating and issued a $65.00 target price on shares of Nike in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have issued a buy rating to the stock. Nike has an average rating of “Buy” and a consensus price target of $61.04.
In related news, CFO Andrew Campion sold 5,722 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the transaction, the chief financial officer now directly owns 34,976 shares in the company, valued at $2,077,574.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total value of $11,526,000.00. Following the completion of the transaction, the insider now owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 over the last quarter. Insiders own 3.90% of the company’s stock.
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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