Sonora Investment Management LLC lessened its stake in Nike Inc (NYSE:NKE) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,446 shares of the footwear maker’s stock after selling 500 shares during the period. Sonora Investment Management LLC’s holdings in Nike were worth $880,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Next Capital Management LLC bought a new stake in shares of Nike in the 4th quarter valued at about $26,000. Gemmer Asset Management LLC grew its position in shares of Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. Clarfeld Financial Advisors LLC bought a new stake in shares of Nike during the 4th quarter valued at about $34,000. Acima Private Wealth LLC bought a new stake in shares of Nike during the 4th quarter valued at about $39,000. Finally, Proffitt & Goodson Inc. bought a new stake in shares of Nike during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 65.75% of the company’s stock.
Shares of Nike stock traded up $0.43 on Friday, hitting $85.70. The company had a trading volume of 6,447,489 shares, compared to its average volume of 6,497,294. The company has a market cap of $134.70 billion, a PE ratio of 35.41, a price-to-earnings-growth ratio of 2.64 and a beta of 0.67. Nike Inc has a 1 year low of $66.53 and a 1 year high of $90.00. The company has a quick ratio of 1.43, a current ratio of 2.17 and a debt-to-equity ratio of 0.39.
Several equities research analysts recently commented on the company. Telsey Advisory Group upped their target price on Nike from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, March 18th. Wells Fargo & Co upped their target price on Nike from $76.00 to $80.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Bank of America upped their target price on Nike from $55.00 to $60.00 and gave the company an “underperform” rating in a research report on Tuesday, March 19th. Rowe upgraded Nike from a “sell” rating to an “outperform” rating and set a $100.00 target price on the stock in a research report on Friday, February 8th. Finally, Citigroup assumed coverage on Nike in a research report on Wednesday, April 10th. They set a “buy” rating and a $100.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $87.10.
In related news, EVP Monique S. Matheson sold 16,500 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $88.21, for a total transaction of $1,455,465.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 150,000 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $82.00, for a total value of $12,300,000.00. Following the sale, the chairman now directly owns 1,539,963 shares of the company’s stock, valued at $126,276,966. The disclosure for this sale can be found here. Over the last three months, insiders sold 316,504 shares of company stock valued at $26,620,816. Company insiders own 3.90% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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