Callahan Advisors LLC lowered its holdings in shares of Nike Inc (NYSE:NKE) by 13.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,785 shares of the footwear maker’s stock after selling 20,035 shares during the period. Nike comprises about 2.0% of Callahan Advisors LLC’s portfolio, making the stock its 17th biggest holding. Callahan Advisors LLC’s holdings in Nike were worth $10,656,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Nike in the 2nd quarter valued at about $104,000. BDO Wealth Advisors LLC lifted its stake in shares of Nike by 1,044.3% in the 2nd quarter. BDO Wealth Advisors LLC now owns 1,396 shares of the footwear maker’s stock valued at $111,000 after purchasing an additional 1,274 shares during the period. CSat Investment Advisory L.P. acquired a new position in shares of Nike in the 2nd quarter valued at about $119,000. Tyvor Capital LLC acquired a new position in shares of Nike in the 2nd quarter valued at about $160,000. Finally, Cerebellum GP LLC acquired a new position in shares of Nike in the 3rd quarter valued at about $182,000. 64.35% of the stock is owned by institutional investors.
In other Nike news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $85.00, for a total transaction of $1,445,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at $8,902,645. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction 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 transaction, the director now directly 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 ninety days, insiders sold 50,000 shares of company stock valued at $4,219,350. 3.90% of the stock is currently owned by corporate insiders.
NKE has been the topic of a number of recent analyst reports. Goldman Sachs Group set a $83.00 price objective on Nike and gave the company a “neutral” rating in a research note on Wednesday, September 26th. Guggenheim boosted their price objective on Nike to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 20th. HSBC set a $92.00 price objective on Nike and gave the company a “buy” rating in a research note on Thursday, September 6th. Susquehanna Bancshares raised Nike from a “neutral” rating to a “positive” rating and upped their price target for the stock from $78.00 to $93.00 in a research note on Monday, August 20th. Finally, Wells Fargo & Co set a $82.00 price target on Nike and gave the stock a “neutral” rating in a research note on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $85.63.
NKE stock opened at $76.57 on Wednesday. The company has a market capitalization of $121.62 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53. Nike Inc has a 12-month low of $54.89 and a 12-month high of $86.04.
Nike (NYSE:NKE) last released its 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. The company 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 prior year, the company posted $0.57 earnings per share. Analysts anticipate that Nike Inc will post 2.62 earnings per share for the current fiscal year.
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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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