Ruggie Capital Group Increases Stake in Nike Inc (NKE)
Ruggie Capital Group increased its holdings in Nike Inc (NYSE:NKE) by 40.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 805 shares of the footwear maker’s stock after purchasing an additional 233 shares during the period. Ruggie Capital Group’s holdings in Nike were worth $60,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Gemmer Asset Management LLC boosted its position in Nike by 54.2% during the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares during the period. Proffitt & Goodson Inc. purchased a new stake in Nike during the 4th quarter valued at $44,000. Quantamental Technologies LLC purchased a new stake in Nike during the 4th quarter valued at $79,000. Cascade Investment Advisors Inc. raised its holdings in Nike by 53.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 1,150 shares of the footwear maker’s stock worth $85,000 after purchasing an additional 400 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Nike by 70.3% in the 4th quarter. Meeder Asset Management Inc. now owns 1,320 shares of the footwear maker’s stock worth $98,000 after purchasing an additional 545 shares in the last quarter. 66.93% of the stock is owned by institutional investors.
Several brokerages have commented on NKE. Oppenheimer upped their price objective on shares of Nike from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday. Rowe upgraded shares of Nike from a “sell” rating to an “outperform” rating and set a $100.00 price objective for the company in a report on Friday. Cowen upgraded shares of Nike from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $90.00 in a report on Tuesday, January 22nd. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a report on Monday, December 3rd. Finally, Jefferies Financial Group restated a “neutral” rating and issued a $80.00 price objective on shares of Nike in a report on Tuesday, December 4th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $84.19.
Nike (NYSE:NKE) last released its quarterly earnings data on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.06. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.17 billion. Nike had a net margin of 5.66% and a return on equity of 44.85%. Nike’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Equities research analysts expect that Nike Inc will post 2.63 earnings per share for the current year.
In other Nike news, EVP John F. Slusher sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $74.05, for a total transaction of $14,810,000.00. Following the completion of the sale, the executive vice president now directly owns 284,805 shares in the company, valued at approximately $21,089,810.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $78.00, for a total transaction of $11,700,000.00. Following the sale, the chairman now owns 1,687,863 shares of the company’s stock, valued at $131,653,314. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 800,000 shares of company stock valued at $61,862,000. 3.90% of the stock is owned by company insiders.
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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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