Nike Inc (NYSE:NKE) Shares Purchased by Edge Capital Group LLC

Edge Capital Group LLC increased its stake in shares of Nike Inc (NYSE:NKE) by 36.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,971 shares of the footwear maker’s stock after acquiring an additional 3,960 shares during the period. Edge Capital Group LLC’s holdings in Nike were worth $1,257,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in 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 acquiring an additional 4,908,916 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Nike by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 17,065,913 shares of the footwear maker’s stock valued at $1,263,116,000 after purchasing an additional 796,906 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Nike by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,507,942 shares of the footwear maker’s stock valued at $260,074,000 after purchasing an additional 69,032 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Nike by 40.8% in the 2nd quarter. Bessemer Group Inc. now owns 3,282,717 shares of the footwear maker’s stock valued at $275,583,000 after purchasing an additional 950,574 shares in the last quarter. Finally, Bank of Montreal Can raised its position in shares of Nike by 10.5% in the 1st quarter. Bank of Montreal Can now owns 3,201,840 shares of the footwear maker’s stock valued at $269,624,000 after purchasing an additional 305,552 shares in the last quarter. 65.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on NKE. Canaccord Genuity reaffirmed a “buy” rating and issued a $96.00 target price on shares of Nike in a research report on Wednesday, June 19th. Pivotal Research set a $101.00 target price on Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Credit Suisse Group reaffirmed a “buy” rating and issued a $97.00 target price on shares of Nike in a research report on Friday, June 28th. Piper Jaffray Companies set a $97.00 target price on Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group set a $85.00 target price on Nike and gave the company a “neutral” rating in a research report on Monday, June 17th. One 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 company presently has a consensus rating of “Buy” and a consensus price target of $89.86.

Shares of NYSE NKE opened at $78.97 on Tuesday. 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 company has a market cap of $127.14 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The firm has a 50 day moving average price of $85.81.

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

In related news, Director Elizabeth J. Comstock sold 24,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was 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 directly owns 38,813 shares in the company, valued at approximately $3,292,894.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John F. Slusher sold 110,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $85.26, for a total value of $9,378,600.00. The disclosure for this sale can be found here. Insiders sold a total of 194,637 shares of company stock valued at $16,767,237 over the last quarter. Company insiders own 3.80% of the company’s stock.

About Nike

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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