Scotia Capital Inc. Has $27.21 Million Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Scotia Capital Inc. has reduced its holdings in NIKE, Inc. by 2.3%, owning 428,584 shares worth approximately $27.21 million at the end of the reporting period.
• Chairman Mark G. Parker sold 110,000 shares of NIKE stock for nearly $7.95 million, decreasing his ownership by 11.55% to approximately $60.89 million.
• Analysts have recently upgraded their ratings for NIKE, with target prices increasing significantly, including a jump from $64.00 to $93.00 by JPMorgan Chase & Co.

Scotia Capital Inc. trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 2.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,584 shares of the footwear maker's stock after selling 10,247 shares during the quarter. Scotia Capital Inc.'s holdings in NIKE were worth $27,206,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at $28,000. EnRich Financial Partners LLC raised its stake in shares of NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after purchasing an additional 273 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of NIKE by 95.1% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock valued at $39,000 after purchasing an additional 250 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of NIKE in the fourth quarter valued at $40,000. Finally, Minot DeBlois Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at $42,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.80% of the company's stock.

NIKE Price Performance

NIKE stock opened at $74.61 on Friday. The business's 50-day simple moving average is $68.36 and its 200 day simple moving average is $67.51. The stock has a market cap of $110.19 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 2.71 and a beta of 1.27. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The company's quarterly revenue was down 11.9% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and upped their target price for the company from $64.00 to $93.00 in a research note on Monday, July 28th. Wells Fargo & Company upped their target price on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Needham & Company LLC increased their price objective on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

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