Synovus Financial Corp grew its holdings in Nike, Inc. (NYSE:NKE) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,360 shares of the footwear maker’s stock after purchasing an additional 4,420 shares during the period. Synovus Financial Corp’s holdings in Nike were worth $11,252,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. V Wealth Management LLC purchased a new stake in shares of Nike in the 2nd quarter valued at $100,000. Asset Planning Services Ltd. increased its holdings in shares of Nike by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after acquiring an additional 7 shares during the last quarter. Rational Advisors LLC increased its holdings in shares of Nike by 14.3% in the 1st quarter. Rational Advisors LLC now owns 2,572 shares of the footwear maker’s stock valued at $143,000 after acquiring an additional 321 shares during the last quarter. Kistler Tiffany Companies LLC increased its holdings in shares of Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after acquiring an additional 1,209 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Nike by 7.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock valued at $164,000 after purchasing an additional 201 shares during the period. 62.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NYSE:NKE) traded down $0.04 during mid-day trading on Monday, reaching $56.09. 7,535,700 shares of the company’s stock were exchanged, compared to its average volume of 9,636,238. The company has a market capitalization of $91,510.00, a PE ratio of 23.87, a PEG ratio of 2.62 and a beta of 0.60. Nike, Inc. has a 1 year low of $49.75 and a 1 year high of $60.53. The company has a current ratio of 2.67, a quick ratio of 1.81 and a debt-to-equity ratio of 0.29.
Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Nike had a net margin of 11.47% and a return on equity of 31.88%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the business posted $0.73 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. analysts forecast that Nike, Inc. will post 2.29 EPS for the current year.
In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
A number of analysts have weighed in on the company. Morgan Stanley reaffirmed a “buy” rating and set a $64.00 price objective (down from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Telsey Advisory Group cut their target price on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Vetr raised Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective for the company in a research note on Wednesday, September 6th. Cowen and Company set a $54.00 price objective on Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $55.00 price objective (down from $56.00) on shares of Nike in a research note on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $58.93.
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.
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