Los Angeles Capital Management LLC Boosts Position in NIKE, Inc. $NKE

Los Angeles Capital Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 1,873.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 115,835 shares of the footwear maker’s stock after purchasing an additional 109,965 shares during the period. Los Angeles Capital Management LLC’s holdings in NIKE were worth $8,229,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Prospera Financial Services Inc boosted its holdings in shares of NIKE by 12.2% in the second quarter. Prospera Financial Services Inc now owns 29,585 shares of the footwear maker’s stock valued at $2,102,000 after purchasing an additional 3,207 shares during the period. AE Wealth Management LLC raised its position in NIKE by 6.4% during the 2nd quarter. AE Wealth Management LLC now owns 275,154 shares of the footwear maker’s stock valued at $19,547,000 after purchasing an additional 16,657 shares in the last quarter. Stokes Family Office LLC raised its position in NIKE by 7.4% during the 2nd quarter. Stokes Family Office LLC now owns 29,368 shares of the footwear maker’s stock valued at $2,086,000 after purchasing an additional 2,022 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of NIKE in the 2nd quarter worth $276,000. Finally, Penserra Capital Management LLC grew its position in shares of NIKE by 5.9% during the 2nd quarter. Penserra Capital Management LLC now owns 13,994 shares of the footwear maker’s stock worth $994,000 after buying an additional 782 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on NKE. Barclays set a $70.00 price objective on NIKE and gave the company a “positive” rating in a report on Wednesday, October 1st. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. BTIG Research initiated coverage on shares of NIKE in a research note on Tuesday, October 14th. They set a “buy” rating and a $100.00 price objective on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Price Performance

Shares of NYSE NKE opened at $61.04 on Monday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a market cap of $90.22 billion, a PE ratio of 31.30, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The business has a 50-day simple moving average of $69.65 and a two-hundred day simple moving average of $68.60.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.