Parkside Financial Bank & Trust Sells 3,801 Shares of Nike, Inc. (NYSE:NKE)
Parkside Financial Bank & Trust reduced its stake in shares of Nike, Inc. (NYSE:NKE) by 59.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,579 shares of the footwear maker’s stock after selling 3,801 shares during the period. Parkside Financial Bank & Trust’s holdings in Nike were worth $143,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Toronto Dominion Bank increased its stake in Nike by 53.6% in the first quarter. Toronto Dominion Bank now owns 368,643 shares of the footwear maker’s stock worth $20,543,000 after buying an additional 128,718 shares during the last quarter. Mitchell Capital Management Co. purchased a new stake in Nike during the first quarter worth $3,962,000. Boston Family Office LLC increased its stake in Nike by 5.1% in the first quarter. Boston Family Office LLC now owns 174,684 shares of the footwear maker’s stock worth $9,735,000 after buying an additional 8,530 shares during the last quarter. Paragon Capital Management LLC increased its stake in Nike by 8.8% in the first quarter. Paragon Capital Management LLC now owns 221,569 shares of the footwear maker’s stock worth $12,348,000 after buying an additional 17,874 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Nike by 28.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 98,303 shares of the footwear maker’s stock worth $5,478,000 after buying an additional 21,707 shares in the last quarter. 64.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Nike, Inc. (NKE) traded down 0.55% during trading on Tuesday, hitting $59.46. The stock had a trading volume of 5,586,303 shares. The stock has a 50 day moving average of $56.89 and a 200 day moving average of $55.39. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The firm has a market cap of $97.70 billion, a PE ratio of 23.69 and a beta of 0.59.
Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.10. Nike had a net margin of 12.34% and a return on equity of 34.18%. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities analysts anticipate that Nike, Inc. will post $2.42 EPS for the current year.
A number of research analysts have issued reports on NKE shares. Nomura reissued a “buy” rating and issued a $60.00 target price on shares of Nike in a research note on Friday, June 30th. J P Morgan Chase & Co cut Nike from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock 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 for the company in a research report on Thursday, June 22nd. Cowen and Company upped their price objective on Nike from $53.00 to $54.00 and gave the stock a “market perform” rating in a research report on Friday, June 30th. Finally, Vetr raised Nike from a “hold” rating to a “buy” rating and set a $55.06 price objective for the company in a research report on Thursday, June 15th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have given a buy rating to the company. Nike has a consensus rating of “Buy” and an average target price of $61.04.
In other news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction on Friday, June 30th. The stock was sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares in the company, valued at approximately $17,706,372. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
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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