Edmond DE Rothschild Holding S.A. Raises Position in Nike, Inc. (NYSE:NKE)
Edmond DE Rothschild Holding S.A. raised its position in shares of Nike, Inc. (NYSE:NKE) by 4.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 243,229 shares of the footwear maker’s stock after buying an additional 10,465 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Nike were worth $13,557,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in NKE. National Pension Service boosted its stake in shares of Nike by 6.8% in the first quarter. National Pension Service now owns 985,191 shares of the footwear maker’s stock worth $55,210,000 after buying an additional 62,631 shares during the period. Country Club Trust Company n.a. acquired a new stake in shares of Nike during the first quarter worth approximately $253,000. Vontobel Asset Management Inc. boosted its stake in shares of Nike by 22.9% in the first quarter. Vontobel Asset Management Inc. now owns 4,423,909 shares of the footwear maker’s stock worth $254,710,000 after buying an additional 823,384 shares during the period. Addenda Capital Inc. raised its position in Nike by 0.4% in the first quarter. Addenda Capital Inc. now owns 205,617 shares of the footwear maker’s stock valued at $11,428,000 after buying an additional 748 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its position in Nike by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 414,148 shares of the footwear maker’s stock valued at $23,080,000 after buying an additional 5,100 shares in the last quarter. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Shares of Nike, Inc. (NKE) traded down 1.09% during mid-day trading on Thursday, hitting $59.25. The stock had a trading volume of 1,055,869 shares. The stock has a market cap of $97.36 billion, a P/E ratio of 23.61 and a beta of 0.59. Nike, Inc. has a one year low of $49.01 and a one year high of $60.53. The firm has a 50 day moving average of $57.59 and a 200-day moving average of $55.54.
Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same period in the prior year, the firm earned $0.49 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
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Several research firms have recently issued reports on NKE. UBS AG reaffirmed a “buy” rating and issued a $62.00 price target (down previously from $63.00) on shares of Nike in a research report on Tuesday, June 27th. FBR & Co set a $53.00 price target on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Canaccord Genuity set a $51.00 price target on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Wells Fargo & Company set a $56.00 price target on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Finally, Piper Jaffray Companies set a $50.00 price target on Nike and gave the stock a “hold” rating in a research report on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $61.04.
In other Nike news, insider Trevor A. Edwards sold 200,000 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now owns 729,610 shares in the company, valued at approximately $42,047,424.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the sale, the insider now owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock valued at $28,485,174 over the last ninety days. 3.90% of the stock is owned by insiders.
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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