PNC Financial Services Group Inc. raised its position in Nike, Inc. (NYSE:NKE) by 0.3% during the first quarter, Holdings Channel reports. The firm owned 4,705,367 shares of the footwear maker’s stock after buying an additional 13,810 shares during the period. PNC Financial Services Group Inc.’s holdings in Nike were worth $262,229,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Accredited Investors Inc. boosted its position in shares of Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust boosted its position in shares of Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Intrust Bank NA boosted its position in shares of Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC boosted its position in shares of Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after buying an additional 50 shares during the period. 64.77% of the stock is owned by institutional investors and hedge funds.

Nike, Inc. (NYSE:NKE) traded up 0.54% during mid-day trading on Wednesday, reaching $59.78. 1,072,101 shares of the company traded hands. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The firm has a market cap of $98.23 billion, a PE ratio of 23.82 and a beta of 0.59. The stock’s 50-day moving average price is $56.89 and its 200-day moving average price is $55.39.

Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.63 billion. During the same quarter last year, the firm earned $0.49 EPS. Nike’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts forecast that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.

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NKE has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 target price on shares of Nike in a research note on Friday, May 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $56.00 target price on shares of Nike in a research note on Wednesday, June 21st. Credit Suisse Group set a $63.00 target price on shares of Nike and gave the stock a “buy” rating in a research note on Saturday, June 24th. UBS AG reaffirmed a “buy” rating and issued a $62.00 target price (down from $63.00) on shares of Nike in a research note on Tuesday, June 27th. Finally, Nomura reaffirmed a “buy” rating and issued a $60.00 target price on shares of Nike in a research note on Friday, June 30th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $61.04.

In other Nike news, CAO Hilary K. Krane sold 28,072 shares of Nike stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $58.10, for a total value of $1,630,983.20. Following the transaction, the chief accounting officer now owns 177,723 shares of the company’s stock, valued at $10,325,706.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the transaction, the insider now directly owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock worth $28,485,174 in the last three months. 3.90% of the stock is owned by insiders.

About Nike

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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