Mosaic Family Wealth LLC raised its position in shares of Nike, Inc. (NYSE:NKE) by 11.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,815 shares of the footwear maker’s stock after buying an additional 4,687 shares during the period. Nike comprises 1.1% of Mosaic Family Wealth LLC’s investment portfolio, making the stock its 12th largest position. Mosaic Family Wealth LLC’s holdings in Nike were worth $2,412,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Empirical Financial Services LLC increased its position in shares of Nike by 3.4% in the second quarter. Empirical Financial Services LLC now owns 5,504 shares of the footwear maker’s stock worth $304,000 after buying an additional 180 shares in the last quarter. Integrated Wealth Management increased its stake in shares of Nike by 12.1% in the second quarter. Integrated Wealth Management now owns 3,966 shares of the footwear maker’s stock valued at $219,000 after buying an additional 428 shares in the last quarter. 1ST Source Bank increased its stake in shares of Nike by 2.6% in the second quarter. 1ST Source Bank now owns 45,235 shares of the footwear maker’s stock valued at $2,497,000 after buying an additional 1,145 shares in the last quarter. Kanawha Capital Management LLC increased its stake in shares of Nike by 4.2% in the second quarter. Kanawha Capital Management LLC now owns 139,137 shares of the footwear maker’s stock valued at $7,680,000 after buying an additional 5,562 shares in the last quarter. Finally, Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Nike by 31.1% in the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,911 shares of the footwear maker’s stock valued at $271,000 after buying an additional 1,165 shares in the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Shares of Nike, Inc. (NYSE:NKE) opened at 56.22 on Monday. The company has a market capitalization of $93.01 billion, a PE ratio of 24.79 and a beta of 0.44. The firm has a 50-day moving average price of $52.98 and a 200-day moving average price of $53.41. Nike, Inc. has a 1-year low of $49.01 and a 1-year high of $65.44.
Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.07. The company had revenue of $8.20 billion for the quarter. Nike had a return on equity of 31.70% and a net margin of 11.60%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Equities analysts anticipate that Nike, Inc. will post $2.34 earnings per share for the current year.
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NKE has been the subject of several recent analyst reports. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $57.41 price objective for the company in a research report on Tuesday, November 1st. Jefferies Group LLC set a $75.00 price objective on shares of Nike and gave the stock a “buy” rating in a research report on Tuesday, December 27th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Nike in a research report on Thursday, December 15th. Forward View initiated coverage on shares of Nike in a research report on Friday, January 27th. They issued a “hold” rating and a $55.00 price target for the company. Finally, HSBC Holdings plc upgraded shares of Nike from a “hold” rating to a “buy” rating and upped their price target for the company from $56.00 to $60.00 in a research report on Monday, December 5th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $62.09.
In other news, EVP John F. Slusher sold 136,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $52.13, for a total transaction of $7,089,680.00. Following the sale, the executive vice president now directly owns 225,165 shares in the company, valued at $11,737,851.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David J. Ayre sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $52.39, for a total value of $10,478,000.00. Following the sale, the executive vice president now owns 357,713 shares in the company, valued at $18,740,584.07. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 636,000 shares of company stock worth $33,477,680. Company insiders own 3.90% of the company’s stock.
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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