Putnam FL Investment Management Co. Boosts Stock Holdings in Nike Inc (NYSE:NKE)

Putnam FL Investment Management Co. grew its position in shares of Nike Inc (NYSE:NKE) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,404 shares of the footwear maker’s stock after purchasing an additional 503 shares during the quarter. Putnam FL Investment Management Co.’s holdings in Nike were worth $1,041,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NKE. Dimensional Fund Advisors LP boosted its holdings in 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 during the period. Geode Capital Management LLC boosted its holdings in 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 during the period. Nordea Investment Management AB boosted its holdings in Nike by 38.3% in the 4th quarter. Nordea Investment Management AB now owns 1,757,962 shares of the footwear maker’s stock valued at $130,336,000 after purchasing an additional 486,593 shares during the period. Capital Insight Partners LLC boosted its holdings in Nike by 0.7% in the 1st quarter. Capital Insight Partners LLC now owns 17,819 shares of the footwear maker’s stock valued at $1,501,000 after purchasing an additional 126 shares during the period. Finally, Orrstown Financial Services Inc. boosted its holdings in Nike by 3.4% in the 1st quarter. Orrstown Financial Services Inc. now owns 11,646 shares of the footwear maker’s stock valued at $981,000 after purchasing an additional 387 shares during the period. 65.68% of the stock is owned by hedge funds and other institutional investors.

NKE has been the subject of several analyst reports. Deutsche Bank set a $100.00 price target on shares of Nike and gave the company a “buy” rating in a report on Wednesday, July 10th. UBS Group set a $85.00 target price on shares of Nike and gave the stock a “neutral” rating in a research report on Monday, June 17th. Zacks Investment Research upgraded shares of Nike from a “sell” rating to a “hold” rating and set a $95.00 target price on the stock in a research report on Monday, May 27th. Credit Suisse Group reiterated a “buy” rating and issued a $97.00 target price on shares of Nike in a research report on Friday, June 28th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $96.00 target price on shares of Nike in a research report on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $90.02.

Shares of NKE traded down $0.29 during trading hours on Wednesday, reaching $81.01. 385,908 shares of the company traded hands, compared to its average volume of 5,509,989. The firm has a fifty day moving average price of $85.78. The stock has a market cap of $127.39 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 2.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. Nike Inc has a 12 month low of $66.53 and a 12 month high of $90.00.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The company had revenue of $10.18 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. Equities analysts anticipate that Nike Inc will post 2.9 earnings per share for the current fiscal year.

In other news, Director Elizabeth J. Comstock sold 24,000 shares of Nike stock in a transaction dated 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 sale, the director now owns 38,813 shares of the company’s stock, valued at approximately $3,292,894.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $85.26, for a total transaction of $9,378,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 194,637 shares of company stock worth $16,767,237 in the last ninety days. Insiders own 3.80% of the company’s stock.

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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