Papp L Roy & Associates Sells 368 Shares of Nike, Inc. (NKE)
Papp L Roy & Associates lowered its stake in shares of Nike, Inc. (NYSE:NKE) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,818 shares of the footwear maker’s stock after selling 368 shares during the period. Papp L Roy & Associates’ holdings in Nike were worth $4,114,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Nike by 0.5% in 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 during the period. Jennison Associates LLC raised its position in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Nike by 10.0% in the first quarter. UBS Asset Management Americas Inc. now owns 5,665,209 shares of the footwear maker’s stock valued at $315,722,000 after buying an additional 516,082 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Nike by 20.7% in the first quarter. Canada Pension Plan Investment Board now owns 5,224,981 shares of the footwear maker’s stock valued at $291,188,000 after buying an additional 896,319 shares during the period. Finally, Alecta Pensionsforsakring Omsesidigt raised its position in shares of Nike by 2.8% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,839,900 shares of the footwear maker’s stock valued at $269,728,000 after buying an additional 129,900 shares during the period. Hedge funds and other institutional investors own 64.77% of the company’s stock.
Shares of Nike, Inc. (NKE) opened at 59.79 on Tuesday. The company has a market cap of $98.25 billion, a price-to-earnings ratio of 23.82 and a beta of 0.59. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.33. The firm has a 50 day moving average price of $56.38 and a 200-day moving average price of $55.29.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Nike, Inc. will post $2.42 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on NKE shares. Nomura reiterated a “buy” rating and set a $60.00 price objective on shares of Nike in a research report on Friday, June 30th. J P Morgan Chase & Co lowered Nike from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $61.00 to $58.00 in a research report on Friday, June 16th. Telsey Advisory Group reduced their price objective on Nike from $66.00 to $62.00 and set an “outperform” rating on the stock in a research report on Thursday, June 22nd. Cowen and Company increased their price objective on Nike from $53.00 to $54.00 and gave the company a “market perform” rating in a research report on Friday, June 30th. Finally, Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price objective on the stock in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $61.04.
In other news, CFO Andrew Campion sold 5,722 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total transaction of $339,886.80. Following the completion of the sale, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the sale, the insider now owns 300,108 shares of the company’s stock, valued at approximately $17,706,372. The disclosure for this sale can be found here. In the last quarter, insiders have sold 492,360 shares of company stock valued at $28,485,174. Company insiders own 3.90% of the company’s stock.
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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