Monroe Bank & Trust MI continued to hold its position in shares of Nike, Inc. (NYSE:NKE) during the third quarter, Holdings Channel reports. The fund owned 4,500 shares of the footwear maker’s stock at the end of the third quarter. Monroe Bank & Trust MI’s holdings in Nike were worth $226,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new position in shares of Nike during the third quarter valued at about $130,000. Bank Hapoalim BM purchased a new position in shares of Nike during the third quarter valued at about $137,000. CWM LLC raised its position in shares of Nike by 18.1% in the third quarter. CWM LLC now owns 2,631 shares of the footwear maker’s stock valued at $139,000 after buying an additional 404 shares in the last quarter. Argentus Capital Management LLC raised its position in shares of Nike by 13.6% in the third quarter. Argentus Capital Management LLC now owns 2,753 shares of the footwear maker’s stock valued at $145,000 after buying an additional 329 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC raised its position in shares of Nike by 83.1% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 2,776 shares of the footwear maker’s stock valued at $146,000 after buying an additional 1,260 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 56.45 on Wednesday. The company’s 50 day moving average price is $53.20 and its 200-day moving average price is $53.38. The stock has a market capitalization of $93.40 billion, a P/E ratio of 24.89 and a beta of 0.44. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $65.44.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, December 20th. The footwear maker reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.07. Nike had a net margin of 11.60% and a return on equity of 31.70%. The company earned $8.20 billion during the quarter. During the same period in the previous year, the company earned $0.90 earnings per share. Nike’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts predict that Nike, Inc. will post $2.34 earnings per share for the current year.
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A number of equities research analysts have weighed in on the company. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $58.05 price objective on the stock. in a report on Thursday, October 27th. Credit Suisse Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Nike in a report on Monday, December 19th. Morgan Stanley reissued an “equal weight” rating and issued a $60.00 target price on shares of Nike in a report on Tuesday, October 18th. Wedbush reissued a “neutral” rating and issued a $53.00 target price on shares of Nike in a report on Wednesday, December 21st. Finally, Barclays PLC reissued an “overweight” rating and issued a $65.00 target price on shares of Nike in a report on Friday, November 11th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company. Nike has an average rating of “Buy” and a consensus target price of $62.09.
In other Nike news, EVP David J. Ayre sold 200,000 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $53.08, for a total transaction of $10,616,000.00. Following the completion of the transaction, the executive vice president now owns 357,713 shares of the company’s stock, valued at $18,987,406.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Slusher sold 136,000 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were 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 owns 225,165 shares in the company, valued at approximately $11,737,851.45. The disclosure for this sale can be found here. Insiders have sold a total of 636,000 shares of company stock worth $33,477,680 in the last quarter. 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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