Bank Pictet & Cie Asia Ltd. Has $14.26 Million Stake in Nike, Inc. (NKE)
Bank Pictet & Cie Asia Ltd. grew its stake in Nike, Inc. (NYSE:NKE) by 19.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 241,700 shares of the footwear maker’s stock after purchasing an additional 38,655 shares during the quarter. Nike comprises approximately 6.8% of Bank Pictet & Cie Asia Ltd.’s holdings, making the stock its 4th largest holding. Bank Pictet & Cie Asia Ltd.’s holdings in Nike were worth $14,260,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Banque Pictet & Cie SA lifted its stake in shares of Nike by 19.3% in the 2nd quarter. Banque Pictet & Cie SA now owns 2,494,722 shares of the footwear maker’s stock valued at $147,189,000 after purchasing an additional 403,594 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Nike by 0.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 505,746 shares of the footwear maker’s stock valued at $29,839,000 after purchasing an additional 2,714 shares during the period. Todd Asset Management LLC acquired a new position in shares of Nike in the 2nd quarter valued at $15,395,000. Sustainable Growth Advisers LP lifted its stake in shares of Nike by 23.4% in the 2nd quarter. Sustainable Growth Advisers LP now owns 5,052,941 shares of the footwear maker’s stock valued at $298,124,000 after purchasing an additional 957,685 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in Nike by 16.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 47,294 shares of the footwear maker’s stock worth $2,791,000 after buying an additional 6,538 shares during the period. 62.46% of the stock is currently owned by institutional investors.
Nike (NYSE:NKE) last posted its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year.
In other news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Several analysts recently commented on NKE shares. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 price objective on the stock in a research note on Wednesday, October 4th. Jefferies Group LLC downgraded Nike from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $75.00 to $60.00 in a research note on Monday, August 21st. Canaccord Genuity reaffirmed a “hold” rating and set a $50.00 price objective (down previously from $51.00) on shares of Nike in a research note on Wednesday, September 27th. Susquehanna Bancshares Inc reaffirmed a “hold” rating and set a $47.00 price objective (down previously from $54.00) on shares of Nike in a research note on Wednesday, September 27th. Finally, Instinet reaffirmed a “buy” rating and set a $62.00 price objective (up previously from $59.00) on shares of Nike in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twenty have given a buy rating to the company’s stock. Nike currently has a consensus rating of “Hold” and a consensus target price of $58.93.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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