Koshinski Asset Management Inc. Lowers Holdings in Nike Inc (NYSE:NKE)

Koshinski Asset Management Inc. lowered its position in shares of Nike Inc (NYSE:NKE) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,231 shares of the footwear maker’s stock after selling 185 shares during the period. Koshinski Asset Management Inc.’s holdings in Nike were worth $415,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kessler Investment Group LLC bought a new stake in shares of Nike in the 1st quarter valued at about $27,000. Stuart Chaussee & Associates Inc. lifted its holdings in Nike by 668.9% during the first quarter. Stuart Chaussee & Associates Inc. now owns 346 shares of the footwear maker’s stock worth $29,000 after buying an additional 301 shares during the period. Benjamin Edwards Inc. boosted its position in Nike by 100.5% during the 1st quarter. Benjamin Edwards Inc. now owns 399 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 200 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of Nike by 68.9% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 402 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 164 shares during the period. Finally, Atwood & Palmer Inc. increased its holdings in shares of Nike by 308.0% in the 1st quarter. Atwood & Palmer Inc. now owns 457 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 345 shares during the period. Hedge funds and other institutional investors own 64.46% of the company’s stock.

A number of equities research analysts recently weighed in on the company. BTIG Research raised their price objective on Nike from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Wells Fargo & Co lifted their price objective on shares of Nike from $99.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. DZ Bank reissued a “sell” rating on shares of Nike in a research report on Friday, June 26th. Morgan Stanley raised their target price on shares of Nike from $119.00 to $121.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Cowen upped their price target on Nike from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-seven have issued a buy rating to the company. Nike presently has a consensus rating of “Buy” and a consensus target price of $109.36.

In related news, COO Andrew Campion sold 60,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $98.00, for a total value of $5,880,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 165,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $99.14, for a total value of $16,358,100.00. Following the transaction, the chairman now owns 2,012,954 shares in the company, valued at approximately $199,564,259.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 292,313 shares of company stock valued at $28,847,939. Company insiders own 3.80% of the company’s stock.

Shares of NKE opened at $97.61 on Friday. The company has a market capitalization of $152.26 billion, a price-to-earnings ratio of 61.78, a PEG ratio of 2.66 and a beta of 0.80. Nike Inc has a 52 week low of $60.00 and a 52 week high of $105.62. The stock’s 50-day moving average price is $97.47 and its 200-day moving average price is $93.09. The company has a quick ratio of 1.59, a current ratio of 2.48 and a debt-to-equity ratio of 1.53.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 25th. The footwear maker reported ($0.51) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.53). The company had revenue of $6.31 billion during the quarter, compared to analyst estimates of $7.26 billion. Nike had a net margin of 6.79% and a return on equity of 32.95%. The company’s revenue was down 38.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. As a group, equities analysts anticipate that Nike Inc will post 2.25 EPS 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.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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