Middleton & Co Inc MA reduced its position in Nike Inc (NYSE:NKE) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,787 shares of the footwear maker’s stock after selling 575 shares during the period. Middleton & Co Inc MA’s holdings in Nike were worth $2,283,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gemmer Asset Management LLC lifted its stake in Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Proffitt & Goodson Inc. bought a new position in Nike during the 4th quarter valued at $44,000. Ruggie Capital Group lifted its stake in Nike by 40.7% during the 4th quarter. Ruggie Capital Group now owns 805 shares of the footwear maker’s stock valued at $60,000 after acquiring an additional 233 shares in the last quarter. Quantamental Technologies LLC bought a new position in Nike during the 4th quarter valued at $79,000. Finally, Cascade Investment Advisors Inc. lifted its stake in Nike by 53.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 1,150 shares of the footwear maker’s stock valued at $85,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 66.93% of the company’s stock.
Shares of NKE opened at $83.68 on Tuesday. Nike Inc has a fifty-two week low of $63.21 and a fifty-two week high of $86.04. The stock has a market capitalization of $129.62 billion, a P/E ratio of 34.58, a PEG ratio of 2.54 and a beta of 0.69. The company has a quick ratio of 1.40, a current ratio of 2.14 and a debt-to-equity ratio of 0.40.
Several brokerages have weighed in on NKE. Credit Suisse Group set a $90.00 price objective on Nike and gave the company a “buy” rating in a research note on Wednesday, January 2nd. UBS Group restated a “neutral” rating on shares of Nike in a research note on Wednesday, October 17th. Macquarie set a $98.00 price objective on Nike and gave the company a “buy” rating in a research note on Tuesday, December 4th. Wells Fargo & Co set a $82.00 target price on Nike and gave the stock a “neutral” rating in a research note on Monday, November 19th. Finally, Robert W. Baird reiterated a “buy” rating and set a $94.00 target price on shares of Nike in a research note on Monday, November 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.19.
In related news, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction dated 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 completion of the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at approximately $124,361,745.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John F. Slusher sold 200,000 shares of Nike stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total value of $14,810,000.00. Following the transaction, the executive vice president now directly owns 284,805 shares of the company’s stock, valued at approximately $21,089,810.25. The disclosure for this sale can be found here. In the last three months, insiders sold 800,000 shares of company stock valued at $61,862,000. 3.90% of the stock is currently owned by insiders.
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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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