NIKE, Inc. (NYSE:NKE) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in NIKE, Inc. (NYSE:NKE) by 12.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,503,841 shares of the footwear maker’s stock after acquiring an additional 618,169 shares during the quarter. Van ECK Associates Corp’s holdings in NIKE were worth $416,475,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. CX Institutional acquired a new stake in NIKE in the 3rd quarter valued at about $5,195,000. Zhang Financial LLC purchased a new stake in shares of NIKE during the third quarter worth approximately $740,000. Swedbank AB increased its stake in shares of NIKE by 1.2% during the third quarter. Swedbank AB now owns 980,660 shares of the footwear maker’s stock worth $86,690,000 after buying an additional 11,877 shares during the period. Petredis Investment Advisors LLC raised its holdings in NIKE by 1.7% in the third quarter. Petredis Investment Advisors LLC now owns 17,964 shares of the footwear maker’s stock valued at $1,588,000 after acquiring an additional 302 shares in the last quarter. Finally, Regatta Capital Group LLC lifted its stake in NIKE by 4.0% in the third quarter. Regatta Capital Group LLC now owns 30,902 shares of the footwear maker’s stock worth $2,732,000 after acquiring an additional 1,180 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 1.4 %

NKE opened at $72.31 on Thursday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.34. The business has a 50 day moving average price of $74.80 and a two-hundred day moving average price of $78.08. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market cap of $106.96 billion, a PE ratio of 22.32, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Stifel Nicolaus dropped their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Morgan Stanley decreased their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Finally, BMO Capital Markets raised their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $88.62.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.