Nike, Inc. (NKE) Shares Bought by Twin Capital Management Inc.

Twin Capital Management Inc. increased its stake in Nike, Inc. (NYSE:NKE) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,760 shares of the footwear maker’s stock after acquiring an additional 10,450 shares during the period. Twin Capital Management Inc.’s holdings in Nike were worth $6,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Nike by 1.4% during the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares in the last quarter. Wellington Management Group LLP lifted its position in Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Nike by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Nike by 9.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after buying an additional 1,130,409 shares in the last quarter. Finally, Edgewood Management LLC lifted its position in Nike by 3.9% during the first quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock valued at $661,710,000 after buying an additional 441,507 shares in the last quarter. 62.55% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on NKE. Stifel Nicolaus set a $66.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Saturday, July 22nd. Guggenheim reiterated a “buy” rating and set a $70.00 price objective on shares of Nike in a research note on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $58.00 price objective on shares of Nike in a research note on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.04.

In related news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the sale, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,045 shares of company stock valued at $7,778,338. Insiders own 3.90% of the company’s stock.

Nike, Inc. (NYSE NKE) opened at 53.06 on Friday. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a 50-day moving average price of $52.56 and a 200 day moving average price of $54.69. The company has a market cap of $86.57 billion, a PE ratio of 22.59 and a beta of 0.61.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts forecast that Nike, Inc. will post $2.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were issued a $0.18 dividend. The ex-dividend date was Thursday

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Nike by 1.4% during the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares in the last quarter. Wellington Management Group LLP lifted its position in Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Nike by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock valued at $1,621,066,000 after buying an additional 144,846 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Nike by 9.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after buying an additional 1,130,409 shares in the last quarter. Finally, Edgewood Management LLC lifted its position in Nike by 3.9% during the first quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock valued at $661,710,000 after buying an additional 441,507 shares in the last quarter. 62.55% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have weighed in on NKE. Stifel Nicolaus set a $66.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Saturday, July 22nd. Guggenheim reiterated a “buy” rating and set a $70.00 price objective on shares of Nike in a research note on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating and set a $58.00 price objective on shares of Nike in a research note on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.04.

In related news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total transaction of $855,200.00. Following the sale, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric D. Sprunk sold 112,323 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $58.61, for a total value of $6,583,251.03. Following the sale, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,045 shares of company stock valued at $7,778,338. Insiders own 3.90% of the company’s stock.

Nike, Inc. (NYSE NKE) opened at 53.06 on Friday. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a 50-day moving average price of $52.56 and a 200 day moving average price of $54.69. The company has a market cap of $86.57 billion, a PE ratio of 22.59 and a beta of 0.61.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. On average, analysts forecast that Nike, Inc. will post $2.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. Nike’s payout ratio is presently 30.64%.

WARNING: “Nike, Inc. (NKE) Shares Bought by Twin Capital Management Inc.” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another domain, it was illegally copied and reposted in violation of international trademark and copyright laws. The correct version of this report can be read at https://ledgergazette.com/2017/10/22/nike-inc-nke-shares-bought-by-twin-capital-management-inc.html.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply