Kanawha Capital Management LLC Lowers Holdings in Nike Inc (NKE)
Kanawha Capital Management LLC lessened its stake in Nike Inc (NYSE:NKE) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,538 shares of the footwear maker’s stock after selling 1,037 shares during the quarter. Nike comprises approximately 1.6% of Kanawha Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Kanawha Capital Management LLC’s holdings in Nike were worth $11,105,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Asset Planning Services Ltd. increased its position in 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 in the last quarter. Morningstar Investment Services LLC acquired a new stake in Nike in the 2nd quarter valued at about $444,000. Fiduciary Financial Services of The Southwest Inc. TX increased its position in Nike by 5.0% in the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 42,866 shares of the footwear maker’s stock valued at $2,529,000 after acquiring an additional 2,060 shares in the last quarter. Denver Investment Advisors LLC increased its position in Nike by 955.6% in the 2nd quarter. Denver Investment Advisors LLC now owns 170,399 shares of the footwear maker’s stock valued at $10,054,000 after acquiring an additional 154,257 shares in the last quarter. Finally, State of Wisconsin Investment Board increased its position in Nike by 17.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 1,862,553 shares of the footwear maker’s stock valued at $109,891,000 after acquiring an additional 270,030 shares in the last quarter. Hedge funds and other institutional investors own 62.78% of the company’s stock.
Nike Inc (NKE) opened at $65.49 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. Nike Inc has a one year low of $50.35 and a one year high of $68.83. The firm has a market cap of $106,548.23, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 2.96 and a beta of 0.68.
In other news, EVP Monique S. Matheson sold 10,000 shares of Nike stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the sale, the executive vice president now directly owns 23,248 shares in the company, valued at $1,441,376. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the sale, the insider now owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Insiders sold 932,896 shares of company stock worth $59,594,217 over the last quarter. 3.90% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the stock. Goldman Sachs Group set a $59.00 price objective on shares of Nike and gave the company a “neutral” rating in a research report on Thursday, December 14th. HSBC lowered shares of Nike from a “buy” rating to a “hold” rating and raised their target price for the company from $58.95 to $62.00 in a research note on Tuesday, November 28th. Buckingham Research started coverage on shares of Nike in a research note on Sunday, December 31st. They issued a “buy” rating and a $72.00 target price on the stock. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, B. Riley raised their target price on shares of Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.37.
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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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