Broad Peak Investment Holdings Ltd. purchased a new stake in Nike Inc (NYSE:NKE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 800,000 shares of the footwear maker’s stock, valued at approximately $75,136,000. Nike accounts for approximately 8.4% of Broad Peak Investment Holdings Ltd.’s portfolio, making the stock its 6th biggest position.
A number of other large investors also recently made changes to their positions in NKE. Garrett Wealth Advisory Group LLC acquired a new position in Nike during the third quarter worth $26,000. Marquette Asset Management LLC acquired a new position in Nike during the third quarter worth $28,000. Candriam Luxembourg S.C.A. boosted its stake in Nike by 97.4% during the third quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock worth $29,000 after buying an additional 145,904 shares during the last quarter. Hexavest Inc. acquired a new position in Nike during the second quarter worth $30,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Nike during the second quarter worth $31,000. 65.35% of the stock is owned by institutional investors.
In other news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total value of $1,527,110.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Elliott Hill sold 2,770 shares of Nike stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total value of $240,879.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 436,445 shares of company stock valued at $40,260,653. Company insiders own 3.80% of the company’s stock.
A number of equities analysts have weighed in on the company. Robert W. Baird set a $87.00 price objective on Nike and gave the stock a “hold” rating in a research note on Monday, September 23rd. Barclays assumed coverage on Nike in a research note on Tuesday. They issued an “overweight” rating and a $111.00 price target on the stock. Susquehanna Bancshares set a $106.00 price target on Nike and gave the company a “buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price target on Nike from $80.00 to $97.00 and gave the company a “hold” rating in a research note on Wednesday, September 25th. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $112.00 price target on shares of Nike in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.40.
NYSE NKE opened at $89.50 on Wednesday. Nike Inc has a 1-year low of $66.53 and a 1-year high of $96.87. The company has a market capitalization of $140.20 billion, a P/E ratio of 35.94, a PEG ratio of 2.31 and a beta of 0.83. The business has a 50 day moving average price of $91.95 and a 200 day moving average price of $86.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29.
Nike (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.15. The company had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. Nike’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. On average, research analysts expect that Nike Inc will post 2.97 earnings per share for the current fiscal year.
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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