FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its position in shares of Nike Inc (NYSE:NKE) by 0.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,398 shares of the footwear maker’s stock after selling 208 shares during the quarter. Nike accounts for approximately 1.0% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 24th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Nike were worth $2,132,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock worth $1,943,374,000 after purchasing an additional 4,908,916 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of Nike during the 1st quarter worth approximately $202,000. WealthTrust Fairport LLC grew its holdings in shares of Nike by 2.7% during the 4th quarter. WealthTrust Fairport LLC now owns 60,157 shares of the footwear maker’s stock worth $4,460,000 after purchasing an additional 1,604 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Nike by 0.4% during the 1st quarter. Nisa Investment Advisors LLC now owns 505,176 shares of the footwear maker’s stock worth $42,541,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Nike by 0.9% during the 1st quarter. Rhumbline Advisers now owns 2,227,033 shares of the footwear maker’s stock worth $187,538,000 after purchasing an additional 19,393 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on NKE. Credit Suisse Group reissued a “buy” rating and set a $97.00 price objective on shares of Nike in a report on Friday, June 28th. UBS Group set a $85.00 target price on Nike and gave the stock a “neutral” rating in a research report on Monday, June 17th. Pivotal Research set a $101.00 target price on Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Goldman Sachs Group set a $83.00 target price on Nike and gave the stock a “neutral” rating in a research report on Monday, July 1st. Finally, Bank of America upgraded Nike to an “underperform” rating and raised their target price for the stock from $60.00 to $70.00 in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $89.86.
Shares of NKE opened at $83.12 on Friday. The company has a fifty day simple moving average of $86.04. The company has a current ratio of 2.10, a quick ratio of 1.39 and a debt-to-equity ratio of 0.38. Nike Inc has a 52-week low of $66.53 and a 52-week high of $90.00. The company has a market cap of $137.06 billion, a P/E ratio of 33.38, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, sell-side analysts forecast that Nike Inc will post 2.9 EPS for the current fiscal year.
Nike Company Profile
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.
Featured Story: What is Considered a Good Return on Equity (ROE)?
Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).
Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.