Hollencrest Capital Management Buys 2,456 Shares of Nike Inc (NYSE:NKE)

Hollencrest Capital Management lifted its stake in Nike Inc (NYSE:NKE) by 98.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,949 shares of the footwear maker’s stock after purchasing an additional 2,456 shares during the period. Hollencrest Capital Management’s holdings in Nike were worth $465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKE. Rhumbline Advisers lifted its stake in Nike by 6.0% in the third quarter. Rhumbline Advisers now owns 2,323,626 shares of the footwear maker’s stock worth $218,235,000 after acquiring an additional 132,471 shares during the period. AdvisorNet Financial Inc lifted its position in shares of Nike by 10.0% during the third quarter. AdvisorNet Financial Inc now owns 9,380 shares of the footwear maker’s stock valued at $881,000 after buying an additional 851 shares during the last quarter. Parsec Financial Management Inc. purchased a new stake in shares of Nike during the third quarter valued at about $200,000. State of New Jersey Common Pension Fund D lifted its position in shares of Nike by 7.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 970,700 shares of the footwear maker’s stock valued at $91,168,000 after buying an additional 70,700 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Nike by 13.5% during the third quarter. Alberta Investment Management Corp now owns 185,000 shares of the footwear maker’s stock valued at $17,375,000 after buying an additional 22,000 shares during the last quarter. Hedge funds and other institutional investors own 65.35% of the company’s stock.

Several analysts have commented on the stock. Exane BNP Paribas assumed coverage on shares of Nike in a research report on Friday, October 4th. They set an “underperform” rating and a $82.00 price target for the company. Daiwa Capital Markets set a $91.00 price target on shares of Nike and gave the company a “hold” rating in a research report on Friday, September 27th. Wedbush reissued an “outperform” rating and set a $100.00 price target (up from $96.00) on shares of Nike in a research report on Wednesday, September 25th. Macquarie set a $89.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Pivotal Research increased their price target on shares of Nike from $101.00 to $104.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have issued a buy rating to the stock. Nike presently has an average rating of “Buy” and an average target price of $96.98.

In other news, insider Elliott Hill sold 2,770 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $86.96, for a total transaction of $240,879.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $93.42, for a total transaction of $15,414,300.00. Following the sale, the chief executive officer now directly owns 2,054,511 shares in the company, valued at approximately $191,932,417.62. The disclosure for this sale can be found here. Insiders have sold a total of 505,579 shares of company stock worth $45,961,980 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

NYSE:NKE traded down $0.83 during midday trading on Thursday, hitting $91.49. The company’s stock had a trading volume of 546,191 shares, compared to its average volume of 6,999,492. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $96.87. The firm’s 50 day moving average is $90.96 and its 200-day moving average is $86.04. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29. The firm has a market cap of $149.24 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.54 and a beta of 0.85.

Nike (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. The company had revenue of $10.66 billion for the quarter, compared to the consensus estimate of $10.43 billion. Nike had a net margin of 10.81% and a return on equity of 47.92%. Nike’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, analysts forecast that Nike Inc will post 2.97 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.22 per share. The ex-dividend date was Friday, August 30th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.96%. Nike’s payout ratio is 35.34%.

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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