Comerica Securities Inc. decreased its holdings in Nike Inc (NYSE:NKE) by 10.0% in the third quarter, HoldingsChannel.com reports. The firm owned 29,654 shares of the footwear maker’s stock after selling 3,310 shares during the quarter. Comerica Securities Inc.’s holdings in Nike were worth $2,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Jennison Associates LLC increased its stake in Nike by 26.5% during the 2nd quarter. Jennison Associates LLC now owns 14,740,623 shares of the footwear maker’s stock worth $1,174,533,000 after buying an additional 3,087,189 shares in the last quarter. American Century Companies Inc. increased its stake in Nike by 42.4% during the 3rd quarter. American Century Companies Inc. now owns 5,309,879 shares of the footwear maker’s stock worth $449,853,000 after buying an additional 1,582,009 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Nike by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after buying an additional 1,273,548 shares in the last quarter. Millennium Management LLC increased its stake in Nike by 2,820.1% during the 2nd quarter. Millennium Management LLC now owns 1,169,503 shares of the footwear maker’s stock worth $93,186,000 after buying an additional 1,129,453 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Nike during the 2nd quarter worth approximately $1,039,000. 64.35% of the stock is owned by institutional investors.

In related news, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $85.05, for a total value of $1,360,800.00. Following the transaction, the director now directly owns 26,963 shares in the company, valued at $2,293,203.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total value of $1,413,550.00. Following the completion of the transaction, the executive vice president now owns 104,737 shares in the company, valued at $8,708,881.55. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $4,219,350 over the last quarter. 3.90% of the stock is currently owned by insiders.

Several equities research analysts have commented on the company. HSBC reiterated a “neutral” rating and set a $92.00 price objective on shares of Nike in a research note on Wednesday, October 3rd. Morgan Stanley set a $88.00 price objective on Nike and gave the stock a “buy” rating in a research note on Wednesday, September 19th. Daiwa Capital Markets set a $85.00 price objective on Nike and gave the stock a “hold” rating in a research note on Monday, October 1st. Bank of America boosted their price objective on Nike from $50.00 to $55.00 and gave the stock an “underperform” rating in a research note on Wednesday, September 26th. Finally, Goldman Sachs Group set a $81.00 price objective on Nike and gave the stock a “buy” rating in a research note on Thursday, September 20th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $85.63.

NKE opened at $76.36 on Friday. Nike Inc has a one year low of $55.08 and a one year high of $86.04. The company has a market capitalization of $123.82 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.53 and a current ratio of 2.31.

Nike (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Nike had a return on equity of 40.69% and a net margin of 5.57%. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.92 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts anticipate that Nike Inc will post 2.62 EPS for the current year.

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Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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