Perella Weinberg Partners Capital Management LP Buys New Position in Nike Inc (NYSE:NKE)

Perella Weinberg Partners Capital Management LP bought a new stake in shares of Nike Inc (NYSE:NKE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 41,220 shares of the footwear maker’s stock, valued at approximately $3,460,000.

A number of other large investors have also made changes to their positions in NKE. Joseph P. Lucia & Associates LLC bought a new stake in Nike during the 1st quarter valued at approximately $25,000. Shamrock Asset Management LLC bought a new stake in Nike during the 1st quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. bought a new stake in Nike during the 1st quarter valued at approximately $25,000. Thor Advisors LLC bought a new stake in Nike during the 1st quarter valued at approximately $26,000. Finally, Mackey Komara & Dankovich LLC bought a new stake in Nike during the 1st quarter valued at approximately $30,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

In other news, Director John C. Lechleiter sold 5,406 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $87.13, for a total value of $471,024.78. Following the completion of the transaction, the director now directly owns 68,457 shares of the company’s stock, valued at approximately $5,964,658.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total value of $2,036,160.00. Following the completion of the transaction, the director now directly owns 38,813 shares of the company’s stock, valued at $3,292,894.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,637 shares of company stock valued at $7,388,637. 3.80% of the stock is currently owned by insiders.

Shares of NKE traded down $1.98 during mid-day trading on Friday, reaching $81.14. The company had a trading volume of 8,759,247 shares, compared to its average volume of 5,000,371. Nike Inc has a twelve month low of $66.53 and a twelve month high of $90.00. The company has a quick ratio of 1.39, a current ratio of 2.10 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $85.99. The stock has a market cap of $135.22 billion, a P/E ratio of 32.59, a P/E/G ratio of 2.28 and a beta of 0.78.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Nike Inc will post 2.9 earnings per share for the current fiscal year.

NKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Nike from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Goldman Sachs Group set a $83.00 target price on Nike and gave the company a “neutral” rating in a research note on Monday, July 1st. Credit Suisse Group restated a “buy” rating and set a $97.00 target price on shares of Nike in a research note on Friday, June 28th. Canaccord Genuity restated a “buy” rating and set a $96.00 target price on shares of Nike in a research note on Wednesday, June 19th. Finally, Deutsche Bank set a $100.00 price target on Nike and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $89.86.

Nike 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.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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