Financial Advisory Service Inc. lessened its position in Nike Inc (NYSE:NKE) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,921 shares of the footwear maker’s stock after selling 454 shares during the period. Financial Advisory Service Inc.’s holdings in Nike were worth $833,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Joseph P. Lucia & Associates LLC bought a new position in Nike in the first quarter worth approximately $25,000. Shamrock Asset Management LLC bought a new position in Nike in the first quarter worth approximately $25,000. Jackson Grant Investment Advisers Inc. bought a new position in Nike in the first quarter worth approximately $25,000. Thor Advisors LLC bought a new position in Nike in the first quarter worth approximately $26,000. Finally, Mackey Komara & Dankovich LLC bought a new position in Nike in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 65.68% of the company’s stock.
In other Nike news, Director Elizabeth J. Comstock sold 24,000 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the completion of the transaction, the director now owns 38,813 shares in the company, valued at $3,292,894.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Hilary K. Krane sold 17,903 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $88.70, for a total transaction of $1,587,996.10. The disclosure for this sale can be found here. Insiders have sold 84,637 shares of company stock valued at $7,388,637 over the last ninety days. 3.80% of the stock is currently owned by corporate insiders.
Nike (NYSE:NKE) last posted its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.04). The company had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nike had a net margin of 10.30% and a return on equity of 45.12%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.69 earnings per share. Analysts anticipate that Nike Inc will post 2.9 earnings per share for the current fiscal year.
Several research analysts have weighed in on NKE shares. Pivotal Research set a $101.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 price target on shares of Nike in a research report on Friday, June 28th. Canaccord Genuity reiterated a “buy” rating and issued a $96.00 price target on shares of Nike in a research report on Wednesday, June 19th. Deutsche Bank set a $100.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Piper Jaffray Companies set a $97.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Friday, June 28th. 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 stock. The company presently has an average rating of “Buy” and an average target price of $89.86.
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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