Community Bank N.A. grew its stake in shares of Nike Inc (NYSE:NKE) by 4.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,562 shares of the footwear maker’s stock after buying an additional 1,267 shares during the quarter. Community Bank N.A.’s holdings in Nike were worth $2,801,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kessler Investment Group LLC acquired a new position in Nike in the first quarter valued at $27,000. Stuart Chaussee & Associates Inc. grew its stake in shares of Nike by 668.9% in the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 301 shares during the period. Perennial Advisors LLC bought a new stake in shares of Nike in the first quarter worth approximately $30,000. Sugarloaf Wealth Management LLC grew its stake in shares of Nike by 68.9% in the first quarter. Sugarloaf Wealth Management LLC now owns 402 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 164 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Nike by 100.5% in the first quarter. Benjamin Edwards Inc. now owns 399 shares of the footwear maker’s stock worth $33,000 after acquiring an additional 200 shares during the period. 64.46% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on NKE. Robert W. Baird lifted their price target on shares of Nike from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Wedbush reiterated an “outperform” rating and issued a $107.00 price target on shares of Nike in a research note on Friday, June 26th. Morgan Stanley lifted their price target on shares of Nike from $119.00 to $121.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. restated a “buy” rating and set a $118.00 target price on shares of Nike in a research report on Friday, June 26th. Finally, Stifel Nicolaus boosted their target price on shares of Nike from $111.00 to $122.00 in a research report on Thursday, July 23rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. Nike currently has an average rating of “Buy” and an average target price of $109.36.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.53). The firm had revenue of $6.31 billion for the quarter, compared to analysts’ expectations of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 32.95%. The business’s quarterly revenue was down 38.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, equities analysts forecast that Nike Inc will post 2.25 EPS for the current fiscal year.
In other news, COO Andrew Campion sold 56,313 shares of Nike stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $98.56, for a total transaction of $5,550,209.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the sale, the chairman now directly owns 2,012,954 shares of the company’s stock, valued at $199,564,259.56. The disclosure for this sale can be found here. Insiders sold a total of 292,313 shares of company stock worth $28,847,939 in the last three months. 3.80% of the stock is owned by corporate insiders.
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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