Algert Global LLC Cuts Holdings in Nike Inc (NKE)

Algert Global LLC cut its stake in shares of Nike Inc (NYSE:NKE) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,166 shares of the footwear maker’s stock after selling 1,115 shares during the period. Nike accounts for 0.8% of Algert Global LLC’s holdings, making the stock its 22nd largest position. Algert Global LLC’s holdings in Nike were worth $2,904,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of NKE. FMR LLC lifted its stake in Nike by 1.4% during the second quarter. FMR LLC now owns 15,661,001 shares of the footwear maker’s stock worth $1,247,869,000 after purchasing an additional 219,743 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Nike by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after purchasing an additional 1,273,548 shares during the last quarter. First Hawaiian Bank purchased a new stake in Nike during the third quarter worth approximately $1,590,000. Andra AP fonden lifted its stake in Nike by 11.1% during the third quarter. Andra AP fonden now owns 103,700 shares of the footwear maker’s stock worth $8,785,000 after purchasing an additional 10,400 shares during the last quarter. Finally, Global Trust Asset Management LLC lifted its stake in Nike by 1,253.8% during the third quarter. Global Trust Asset Management LLC now owns 1,760 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,630 shares during the last quarter. Hedge funds and other institutional investors own 66.93% of the company’s stock.

In other news, EVP John F. Slusher sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the sale, the executive vice president now owns 284,805 shares in the company, valued at $21,089,810.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total value of $11,052,000.00. Following the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $124,361,745.84. The disclosure for this sale can be found here. Insiders have sold 800,000 shares of company stock valued at $61,862,000 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Shares of NYSE NKE opened at $85.40 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.14 and a quick ratio of 1.40. Nike Inc has a twelve month low of $63.21 and a twelve month high of $86.04. The company has a market capitalization of $129.62 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.54 and a beta of 0.69.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.17 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nike Inc will post 2.63 earnings per share for the current year.

Several equities research analysts recently weighed in on NKE shares. Macquarie restated a “buy” rating and set a $98.00 target price on shares of Nike in a research note on Monday, October 29th. Robert W. Baird restated a “buy” rating and set a $94.00 target price on shares of Nike in a research note on Monday, November 19th. Morgan Stanley set a $103.00 target price on Nike and gave the stock a “buy” rating in a research note on Tuesday, December 11th. Canaccord Genuity restated a “buy” rating and set a $95.00 target price on shares of Nike in a research note on Monday, December 17th. Finally, Deutsche Bank set a $69.00 target price on Nike and gave the stock a “buy” rating in a research note on Thursday, December 20th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $84.19.

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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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