Meiji Yasuda Life Insurance Co increased its holdings in Nike, Inc. (NYSE:NKE) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,048 shares of the footwear maker’s stock after purchasing an additional 2,890 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Nike were worth $2,245,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Scotland Group PLC raised its holdings in Nike by 6.2% in the 1st quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after purchasing an additional 12,201 shares during the period. Great Lakes Advisors LLC raised its holdings in Nike by 4.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock worth $5,732,000 after purchasing an additional 4,030 shares during the period. North Star Asset Management Inc. raised its holdings in Nike by 7.8% in the 1st quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after purchasing an additional 4,129 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in Nike by 20.0% in the 2nd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock worth $6,118,000 after purchasing an additional 17,285 shares during the period. Finally, Airain ltd acquired a new position in Nike in the 2nd quarter worth about $3,189,000. 62.24% of the stock is owned by institutional investors.
In related news, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s 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 $1,371,527. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was 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. Company insiders own 3.90% of the company’s stock.
A number of equities analysts recently weighed in on the company. B. Riley reaffirmed a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Forward View raised Nike from a “sell” rating to a “hold” rating in a report on Sunday, October 29th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $50.00 price target on shares of Nike in a report on Wednesday, November 1st. Vetr raised 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. Finally, FBR & Co reiterated a “hold” rating and set a $53.00 price objective on shares of Nike in a research note on Friday, October 27th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.93.
Nike, Inc. (NKE) opened at $55.91 on Tuesday. The stock has a market capitalization of $91,220.00, 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. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ 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 analyst estimates of $9.08 billion. During the same quarter last year, the company posted $0.73 earnings per share. The business’s revenue was up .1% on a year-over-year basis. sell-side analysts forecast that Nike, Inc. will post 2.29 EPS for the current year.
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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