Veritas Investment Management LLP Has $452,000 Position in Nike Inc (NYSE:NKE)

Veritas Investment Management LLP lifted its stake in Nike Inc (NYSE:NKE) by 240.5% in the third quarter, HoldingsChannel.com reports. The firm owned 4,814 shares of the footwear maker’s stock after purchasing an additional 3,400 shares during the quarter. Veritas Investment Management LLP’s holdings in Nike were worth $452,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Garrett Wealth Advisory Group LLC acquired a new stake in shares of Nike in the third quarter valued at approximately $26,000. Marquette Asset Management LLC acquired a new stake in shares of Nike in the third quarter valued at approximately $28,000. Hexavest Inc. acquired a new stake in shares of Nike in the second quarter valued at approximately $30,000. Litman Gregory Asset Management LLC acquired a new stake in shares of Nike in the second quarter valued at approximately $31,000. Finally, KCS Wealth Advisory acquired a new stake in shares of Nike in the third quarter valued at approximately $38,000. 65.37% of the stock is owned by institutional investors and hedge funds.

NKE has been the topic of a number of recent research reports. Robert W. Baird set a $87.00 price objective on shares of Nike and gave the company a “hold” rating in a research note on Monday, September 23rd. DZ Bank reaffirmed a “sell” rating on shares of Nike in a research note on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Nike in a research note on Wednesday, September 25th. Deutsche Bank set a $105.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Susquehanna Bancshares set a $106.00 price objective on shares of Nike and gave the company a “buy” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $97.07.

In other news, insider Elliott Hill sold 2,770 shares of Nike stock in a transaction 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 available through this link. Also, CEO Mark G. Parker sold 165,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $93.42, for a total transaction of $15,414,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,054,511 shares in the company, valued at $191,932,417.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 436,445 shares of company stock worth $40,260,653. Insiders own 3.80% of the company’s stock.

Shares of NYSE NKE traded up $0.24 during midday trading on Monday, reaching $90.05. 3,247,289 shares of the stock were exchanged, compared to its average volume of 6,501,039. The business has a 50-day simple moving average of $91.77 and a two-hundred day simple moving average of $86.32. The company has a market capitalization of $140.31 billion, a price-to-earnings ratio of 36.16, a P/E/G ratio of 2.31 and a beta of 0.83. Nike Inc has a 12 month low of $66.53 and a 12 month high of $96.87. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29.

Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.15. The company had revenue of $10.66 billion for the quarter, compared to analysts’ expectations of $10.43 billion. Nike had a net margin of 10.81% and a return on equity of 47.92%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.67 earnings per share. Equities research analysts expect that Nike Inc will post 2.98 earnings per share for the current fiscal year.

About Nike

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.

See Also: Exchange-Traded Funds (ETFs)

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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