Nike, Inc. (NKE) Shares Sold by Wealth Architects LLC
Wealth Architects LLC cut its stake in Nike, Inc. (NYSE:NKE) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,118 shares of the footwear maker’s stock after selling 2,043 shares during the period. Nike makes up 0.5% of Wealth Architects LLC’s investment portfolio, making the stock its 26th largest position. Wealth Architects LLC’s holdings in Nike were worth $1,245,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Wealth Management LLC purchased a new position in Nike in the second quarter valued at approximately $100,000. Asset Planning Services Ltd. raised its holdings in Nike by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares during the period. Kistler Tiffany Companies LLC raised its holdings in Nike by 91.7% in the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after buying an additional 1,209 shares during the period. Rational Advisors LLC raised its holdings in Nike by 14.3% in the first quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after buying an additional 321 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Nike by 7.8% in the second quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after buying an additional 201 shares during the period. 62.57% of the stock is currently owned by institutional investors and hedge funds.
In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the transaction, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the transaction, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several research firms recently commented on NKE. B. Riley restated a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Guggenheim reiterated a “buy” rating and set a $70.00 price objective on shares of Nike in a research note on Monday, July 24th. FBR & Co reiterated a “hold” rating and set a $53.00 price objective on shares of Nike in a research note on Thursday, September 14th. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $64.00 price objective on shares of Nike in a research note on Tuesday, September 19th. Finally, Raymond James Financial, Inc. dropped their price objective on shares of Nike from $71.00 to $67.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $58.93.
Shares of Nike, Inc. (NKE) opened at $56.09 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. The stock has a market capitalization of $91,511.79, a PE ratio of 23.87, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60. Nike, Inc. has a twelve month low of $49.75 and a twelve month high of $60.53.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the company earned $0.73 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. equities analysts expect that Nike, Inc. will post 2.29 earnings per share for the current year.
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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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