Summit Global Investments grew its holdings in shares of Nike, Inc. (NYSE:NKE) by 30.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,900 shares of the footwear maker’s stock after acquiring an additional 2,780 shares during the quarter. Summit Global Investments’ holdings in Nike were worth $702,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. V Wealth Management LLC acquired a new position in Nike during the 2nd quarter worth $100,000. Asset Planning Services Ltd. boosted its position in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after acquiring an additional 7 shares during the period. Kistler Tiffany Companies LLC boosted its position in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after acquiring an additional 1,209 shares during the period. Rational Advisors LLC boosted its position in Nike by 14.3% during the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock worth $143,000 after acquiring an additional 321 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Nike by 7.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after acquiring an additional 201 shares during the period. Institutional investors own 62.57% of the company’s stock.

Shares of Nike, Inc. (NYSE:NKE) opened at $56.09 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Nike, Inc. has a 52-week low of $49.75 and a 52-week high of $60.53. The company has a market capitalization of $91,577.05, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 2.62 and a beta of 0.60.

Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the company earned $0.73 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. sell-side analysts expect that Nike, Inc. will post 2.29 earnings per share for the current fiscal year.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the sale, the director now owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.

NKE has been the subject of a number of analyst reports. Nomura set a $62.00 price target on Nike and gave the stock a “buy” rating in a research report on Monday, July 17th. Needham & Company LLC started coverage on Nike in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Morgan Stanley upgraded Nike from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $56.00 to $68.00 in a report on Wednesday, July 19th. Stifel Nicolaus set a $66.00 price objective on Nike and gave the company a “buy” rating in a report on Saturday, July 22nd. Finally, Piper Jaffray Companies set a $53.00 price objective on Nike and gave the company a “hold” rating in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twenty have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $58.93.

ILLEGAL ACTIVITY NOTICE: “Summit Global Investments Buys 2,780 Shares of Nike, Inc. (NKE)” was posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another website, it was copied illegally and republished in violation of United States and international trademark and copyright law. The original version of this piece of content can be read at https://www.watchlistnews.com/summit-global-investments-buys-2780-shares-of-nike-inc-nke/1694900.html.

About Nike

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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.