Acadian Asset Management LLC Grows Holdings in Nike Inc (NKE)

Acadian Asset Management LLC raised its stake in Nike Inc (NYSE:NKE) by 311.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,668 shares of the footwear maker’s stock after purchasing an additional 57,285 shares during the quarter. Acadian Asset Management LLC’s holdings in Nike were worth $6,410,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in Nike by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock valued at $2,226,327,000 after purchasing an additional 1,273,548 shares during the period. Northern Trust Corp increased its position in shares of 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 acquiring an additional 64,030 shares during the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 219,743 shares during the last quarter. Edgewood Management LLC increased its position in shares of 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 acquiring an additional 388,901 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of 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 acquiring an additional 3,087,189 shares during the last quarter. 64.35% of the stock is currently owned by institutional investors.

Shares of Nike stock opened at $76.57 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53. The stock has a market capitalization of $121.62 billion, a P/E ratio of 31.64, a PEG ratio of 2.39 and a beta of 0.77. Nike Inc has a fifty-two week low of $54.89 and a fifty-two week high of $86.04.

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

In other Nike news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total value of $1,445,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,737 shares in the company, valued at $8,902,645. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total value of $1,360,800.00. Following the completion of the transaction, the director now owns 26,963 shares of the company’s stock, valued at $2,293,203.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is owned by corporate insiders.

A number of analysts have recently issued reports on NKE shares. Macquarie reaffirmed a “buy” rating and set a $87.00 target price on shares of Nike in a research report on Tuesday, July 10th. Morgan Stanley started coverage on Nike in a research report on Wednesday, August 1st. They set an “overweight” rating and a $88.00 target price on the stock. Wells Fargo & Co set a $82.00 target price on Nike and gave the stock a “neutral” rating in a research report on Monday, August 6th. JPMorgan Chase & Co. lifted their target price on Nike from $76.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 15th. Finally, Piper Jaffray Companies raised Nike from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $72.00 to $93.00 in a research report on Monday, August 20th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.63.

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About Nike

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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