Los Angeles Capital Management & Equity Research Inc. Has $96.14 Million Stake in Nike Inc (NKE)

Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Nike Inc (NYSE:NKE) by 92.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,134,838 shares of the footwear maker’s stock after buying an additional 545,145 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.07% of Nike worth $96,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings 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. Northern Trust Corp boosted its holdings in Nike by 0.3% during the second quarter. Northern Trust Corp now owns 20,669,184 shares of the footwear maker’s stock worth $1,646,920,000 after purchasing an additional 64,030 shares during the last quarter. FMR LLC boosted its holdings 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. Edgewood Management LLC boosted its holdings in Nike by 2.6% during the second quarter. Edgewood Management LLC now owns 15,500,497 shares of the footwear maker’s stock worth $1,235,080,000 after purchasing an additional 388,901 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Nike by 26.5% during the second quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock worth $1,174,533,000 after purchasing an additional 3,087,189 shares during the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

In other news, EVP Monique S. Matheson sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at $8,708,881.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now directly owns 26,963 shares in the company, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock worth $4,219,350. Insiders own 3.90% of the company’s stock.

NYSE NKE opened at $76.36 on Friday. Nike Inc has a 12-month low of $55.08 and a 12-month high of $86.04. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31. The company has a market capitalization of $123.82 billion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. Nike had a net margin of 5.57% and a return on equity of 40.69%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts predict that Nike Inc will post 2.62 earnings per share for the current fiscal year.

Several research analysts recently weighed in on NKE shares. Goldman Sachs Group set a $83.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Wednesday, September 26th. Guggenheim boosted their price target on shares of Nike to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 20th. HSBC set a $92.00 price target on shares of Nike and gave the stock a “buy” rating in a report on Thursday, September 6th. Susquehanna Bancshares upgraded shares of Nike from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $78.00 to $93.00 in a report on Monday, August 20th. Finally, Wells Fargo & Co set a $82.00 price target on shares of Nike and gave the stock a “neutral” rating in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $85.63.

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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.

Further Reading: Technical Analysis

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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