FARMERS & MERCHANTS TRUST Co OF LONG BEACH Buys 212 Shares of Nike Inc (NYSE:NKE)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Nike Inc (NYSE:NKE) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 26,815 shares of the footwear maker’s stock after purchasing an additional 212 shares during the period. Nike makes up about 1.2% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings, making the stock its 19th biggest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Nike were worth $2,630,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in NKE. Guggenheim Capital LLC lifted its position in Nike by 25.0% during the fourth quarter. Guggenheim Capital LLC now owns 124,014 shares of the footwear maker’s stock valued at $12,564,000 after buying an additional 24,832 shares during the period. Triangle Securities Wealth Management lifted its position in Nike by 2.1% during the 1st quarter. Triangle Securities Wealth Management now owns 12,770 shares of the footwear maker’s stock valued at $1,057,000 after acquiring an additional 263 shares during the period. TPG Financial Advisors LLC boosted its stake in Nike by 22.0% during the first quarter. TPG Financial Advisors LLC now owns 7,777 shares of the footwear maker’s stock worth $643,000 after acquiring an additional 1,400 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Nike by 6.4% during the first quarter. State of Alaska Department of Revenue now owns 322,401 shares of the footwear maker’s stock worth $26,675,000 after acquiring an additional 19,460 shares in the last quarter. Finally, Gradient Investments LLC grew its holdings in Nike by 28.6% in the first quarter. Gradient Investments LLC now owns 29,144 shares of the footwear maker’s stock worth $2,411,000 after purchasing an additional 6,480 shares during the period. 64.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Nike stock traded up $0.79 during trading hours on Friday, hitting $97.61. The company’s stock had a trading volume of 5,510,394 shares, compared to its average volume of 4,910,311. The company has a market cap of $152.26 billion, a PE ratio of 61.78, a PEG ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.59 and a current ratio of 2.48. The business has a 50 day moving average price of $97.47 and a two-hundred day moving average price of $93.09. Nike Inc has a 12-month low of $60.00 and a 12-month high of $105.62.

Nike (NYSE:NKE) last issued its earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.53). Nike had a net margin of 6.79% and a return on equity of 32.95%. The business had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $7.26 billion. During the same period last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was down 38.0% compared to the same quarter last year. As a group, research analysts anticipate that Nike Inc will post 2.25 earnings per share for the current year.

A number of analysts have recently commented on the company. Susquehanna Bancshares boosted their price target on Nike from $100.00 to $130.00 and gave the stock a “positive” rating in a research report on Monday, June 22nd. BMO Capital Markets reissued a “buy” rating and issued a $100.00 target price on shares of Nike in a report on Friday, June 26th. Credit Suisse Group reduced their price target on Nike from $114.00 to $111.00 and set an “outperform” rating for the company in a report on Friday, June 26th. DZ Bank reiterated a “sell” rating on shares of Nike in a research note on Friday, June 26th. Finally, Pivotal Research reissued a “buy” rating and set a $115.00 price objective on shares of Nike in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $109.36.

In other news, COO Andrew Campion sold 56,313 shares of the business’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $98.56, for a total value of $5,550,209.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Hilary K. Krane sold 11,000 shares of the company’s stock in a transaction dated Tuesday, July 14th. The shares were sold at an average price of $96.33, for a total transaction of $1,059,630.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 292,313 shares of company stock valued at $28,847,939. Insiders own 3.80% of the company’s stock.

Nike Company 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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