GAM Holding AG Purchases 18,062 Shares of Nike Inc (NKE)

GAM Holding AG Purchases 18,062 Shares of Nike Inc (NKE)

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GAM Holding AG raised its holdings in shares of Nike Inc (NYSE:NKE) by 14.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 142,046 shares of the footwear maker’s stock after purchasing an additional 18,062 shares during the period. GAM Holding AG’s holdings in Nike were worth $12,035,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Nike by 1.2% during the 3rd quarter. BlackRock Inc. now owns 82,676,038 shares of the footwear maker’s stock valued at $7,004,317,000 after purchasing an additional 966,541 shares during the period. Bank of New York Mellon Corp raised its position in shares of 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 valued at $2,226,327,000 after purchasing an additional 1,273,548 shares during the period. Northern Trust Corp raised its position in shares of Nike by 0.3% during the 2nd quarter. Northern Trust Corp now owns 20,669,184 shares of the footwear maker’s stock valued at $1,646,920,000 after purchasing an additional 64,030 shares during the period. FMR LLC raised its position in shares of Nike by 5.2% during the 3rd quarter. FMR LLC now owns 16,479,696 shares of the footwear maker’s stock valued at $1,396,160,000 after purchasing an additional 818,695 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Nike by 9.2% during the 3rd quarter. Jennison Associates LLC now owns 16,095,107 shares of the footwear maker’s stock valued at $1,363,577,000 after purchasing an additional 1,354,484 shares during the period. Hedge funds and other institutional investors own 64.01% of the company’s stock.

In other news, EVP Monique S. Matheson sold 17,000 shares of the company’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $85.00, for a total value of $1,445,000.00. Following the sale, the executive vice president now directly owns 104,737 shares of the company’s stock, valued at approximately $8,902,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Johnathan A. Rodgers sold 16,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the completion of the sale, the director now directly owns 26,963 shares in the company, valued at $2,293,203.15. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

A number of analysts have issued reports on the stock. Bank of America reiterated a “sell” rating and issued a $50.00 price target on shares of Nike in a report on Friday, September 21st. Stifel Nicolaus lifted their price target on shares of Nike from $90.00 to $96.00 and gave the company a “buy” rating in a report on Monday, September 24th. Goldman Sachs Group set a $81.00 price target on shares of Nike and gave the company a “buy” rating in a report on Thursday, September 20th. Pivotal Research set a $85.00 target price on shares of Nike and gave the stock a “hold” rating in a report on Friday, September 21st. Finally, Barclays boosted their target price on shares of Nike to $100.00 and gave the stock an “overweight” rating in a report on Friday, September 21st. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $86.46.

NYSE:NKE opened at $72.53 on Monday. Nike Inc has a one year low of $60.13 and a one year high of $86.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53. The stock has a market capitalization of $115.19 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.26 and a beta of 0.76.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 25th. The footwear maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Research analysts forecast that Nike Inc will post 2.63 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.22 per share. This is a positive change from Nike’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, November 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.21%. Nike’s dividend payout ratio is presently 36.36%.

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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.

Read More: What is an Initial Public Offering (IPO)?

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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