Nike Inc (NKE) Stake Owned by Swoosh, LLC Decem

Nike Inc (NKE) Stake Owned by Swoosh, LLC
December 31st, 2015 - By Thomas Dobrow - 0 comments

Nike logoSwoosh, LLC recently disclosed that they own a 15.1% stake in Nike Inc (NYSE:NKE) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, December 31st. The investor owns 257,000,000 shares of the stock valued at $16,062,500,000. The filing is available through the SEC website at this link.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Meag Munich Ergo Kapitalanlagegesellschaft bought a new position in Nike during the third quarter worth $26,543,000. Saturna Capital increased its position in Nike by 1.4% in the third quarter. Saturna Capital now owns 394,670 shares of the footwear maker’s stock worth $48,533,000 after buying an additional 5,609 shares in the last quarter. Perigon Wealth Management increased its position in Nike by 1.0% in the third quarter. Perigon Wealth Management now owns 7,258 shares of the footwear maker’s stock worth $893,000 after buying an additional 73 shares in the last quarter. Finally, Gerstein Fisher increased its position in Nike by 9.7% in the third quarter. Gerstein Fisher now owns 7,758 shares of the footwear maker’s stock worth $954,000 after buying an additional 686 shares in the last quarter.

Shares of Nike Inc (NYSE:NKE) traded down 1.19% on Thursday, reaching $62.50. 6,440,889 shares of the company’s stock traded hands. The company has a market cap of $106.66 billion and a PE ratio of 30.43. Nike Inc has a 12-month low of $45.35 and a 12-month high of $68.19. The stock has a 50-day moving average price of $64.58 and a 200-day moving average price of $59.89.

Nike (NYSE:NKE) last posted its quarterly earnings results on Tuesday, December 22nd. The footwear maker reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.04. During the same quarter in the previous year, the company earned $0.74 earnings per share. The company earned $7.69 billion during the quarter. Nike’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Nike Inc will post $2.15 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Wednesday, December 9th will be paid a $0.32 dividend. This is a boost from Nike’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 2.05%. The ex-dividend date is Monday, December 7th.

Several research analysts recently commented on NKE shares. BB&T Corp. raised shares of Nike from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Monday, October 19th. DA Davidson raised their price objective on shares of Nike from $70.00 to $72.50 and gave the stock a “buy” rating in a report on Thursday, October 15th. Telsey Advisory Group raised their price objective on shares of Nike from $64.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Cowen and Company raised their price objective on shares of Nike from $72.50 to $75.00 and gave the stock an “outperform” rating in a report on Monday, December 14th. Finally, Citigroup Inc. raised their price objective on shares of Nike from $63.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, September 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $72.40.

In other Nike news, insider Jeanne P. Jackson sold 25,000 shares of Nike stock in a transaction on Monday, December 28th. The shares were sold at an average price of $63.58, for a total transaction of $1,589,500.00. Following the sale, the insider now owns 167,196 shares of the company’s stock, valued at approximately $10,630,321.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Timothy D. Cook sold 16,000 shares of Nike stock in a transaction on Tuesday, December 29th. The stock was sold at an average price of $64.04, for a total transaction of $1,024,640.00. Following the sale, the director now directly owns 12,682 shares in the company, valued at approximately $812,155.28. The disclosure for this sale can be found here.

12 Month Chart for NYSE:NKE

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (NYSE:NKE), and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running, Basketball, Football (Soccer), Men’s Training, Women’s Training, Action Sports, Sportswear (the Company’s sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Company’s portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse

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