Mirae Asset Global Investments Co. Ltd. cut its stake in Nike, Inc. (NYSE:NKE) by 6.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 64,568 shares of the footwear maker’s stock after selling 4,445 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Nike were worth $3,599,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of NKE. Jennison Associates LLC boosted its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. Norges Bank purchased a new stake in shares of Nike during the fourth quarter worth approximately $463,411,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Nike during the fourth quarter worth approximately $165,446,000. Pioneer Investment Management Inc. boosted its stake in shares of Nike by 108.4% in the first quarter. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker’s stock worth $175,956,000 after buying an additional 1,642,177 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Nike by 26.0% in the first quarter. Swiss National Bank now owns 4,734,468 shares of the footwear maker’s stock worth $263,852,000 after buying an additional 978,100 shares during the period. 64.77% of the stock is currently owned by institutional investors.
Shares of Nike, Inc. (NYSE:NKE) opened at 59.90 on Thursday. The stock has a market cap of $98.43 billion, a PE ratio of 23.86 and a beta of 0.59. The stock’s 50 day moving average is $56.38 and its 200 day moving average is $55.29. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.33.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. Equities research analysts forecast that Nike, Inc. will post $2.42 earnings per share for the current year.
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A number of analysts have commented on the stock. UBS AG reaffirmed a “buy” rating and set a $62.00 price target (down previously from $63.00) on shares of Nike in a research report on Tuesday, June 27th. Canaccord Genuity set a $51.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. FBR & Co set a $53.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $50.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 1st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $61.04.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the completion of the transaction, the insider now owns 729,610 shares in the company, valued at $42,047,424.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares of the company’s stock, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 492,360 shares of company stock valued at $28,485,174. 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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