Economy

Nike, Inc. (NKE) Rating Reiterated by Citigroup Inc

The firm lowered its rating for Nike shares to neutral from buy, citing an intense promotional environment for the company's products. (NYSE:NKE) by 29.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. Torray Llc sold 20,621 shares as Nike (NKE)'s stock declined 8.78%. Marshall Wace North America L.P.'s holdings in Nike were worth $831,000 as of its most recent filing with the SEC. Webster Bank N.A. raised its stake in Nike by 75.5% during the 1st quarter. It dived, as 82 investors sold Nike Inc shares while 439 reduced holdings. The Kingdon Capital Management Llc holds 6,989 shares with $2.01 million value, down from 8,966 last quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker's stock valued at $164,000 after buying an additional 201 shares in the last quarter. Burney has 0.09% invested in Nike Inc (NYSE:NKE) for 25,395 shares. Finally, Smith Shellnut Wilson LLC ADV raised its holdings in Nike by 0.3% during the 2nd quarter. The hedge fund run by Peter Algert held 216,112 shares of the public utilities company at the end of 2017Q2, valued at $3.38 million, down from 267,512 at the end of the previous reported quarter. Bnp Paribas Arbitrage Sa invested in 1.25M shares or 0.22% of the stock. Company insiders own 3.90% of the company's stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business's stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now owns 25,660 shares of the company's stock, valued at $1,371,527. The disclosure for this sale can be found here.

Sprint shares got a downgrade this morning as the news hit the wire, but the charts told you that this stock was a sell a few months ago if you were watching.

Since June 1, 2017, it had 0 buys, and 1 sale for $3.66 million activity. Bridges Invest Counsel Inc invested in 0.35% or 26,310 shares. (NKE) opened at 52.30 on Thursday. The firm's 50 day moving average is $52.55 and its 200 day moving average is $54.72.

Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. Bartlett & Co who had been investing in Nike Inc. for a number of months, seems to be bullish on the $84.90B market cap company.

For the current quarter, 33 analysts are projecting a mean EPS of $0.4/share. Nike had a return on equity of 31.88% and a net margin of 11.47%. The stock sank -4.64% last month and is up 1.06 this year. During the same period previous year, the company posted $0.73 earnings per share. Segment Wealth Mngmt Limited Liability Com holds 0.84% of its portfolio in Nike Inc (NYSE:NKE) for 51,550 shares. Also, CFO Andrew Campion sold 5,722 shares of the business's stock in a transaction dated Monday, July 24th. Shareholders of record on Tuesday, September 5th were given a $0.18 dividend. The ex-dividend date was Thursday, August 31st. Its down 0.07, from 1.07 in 2017Q1. Nike's dividend payout ratio (DPR) is presently 30.64%.

A number of equities analysts have recently issued reports on the stock. Telsey Advisory Group cut their price objective on shares of Nike from $66.00 to $62.00 and set an "outperform" rating on the stock in a research report on Thursday, June 22nd.

Pivotal Research began new coverage on Nike, Inc. giving the company a "hold" rating. Seekingalpha.com's article titled: "TJX Companies: Great Company At A Fair Price" and published on October 11, 2017 is yet another important article. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Canaccord Genuity has "Hold" rating and $52 target.

COPYRIGHT VIOLATION NOTICE: "Richard Bernstein Advisors LLC Trims Position in Nike, Inc. (NKE)" was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another website, it was stolen and republished in violation of US and worldwide trademark and copyright legislation. The correct version of this story can be read at https://weekherald.com/2017/10/19/richard-bernstein-advisors-llc-trims-position-in-nike-inc-nke.html.

The underpinnings of NKE's business remain compelling, in our view, driven by an opportunity to further consolidate market share in the growing athletic apparel and footwear market. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.



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