Angeles Wealth Management LLC Has $1.18 Million Holdings in NIKE, Inc. (NYSE:NKE)

Angeles Wealth Management LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,389 shares of the footwear maker’s stock after selling 1,566 shares during the period. Angeles Wealth Management LLC’s holdings in NIKE were worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in NIKE by 15.1% during the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock valued at $431,893,000 after purchasing an additional 641,398 shares during the period. Whitener Capital Management Inc. lifted its position in NIKE by 1.2% during the 3rd quarter. Whitener Capital Management Inc. now owns 35,648 shares of the footwear maker’s stock valued at $3,151,000 after purchasing an additional 429 shares during the period. Coronation Fund Managers Ltd. acquired a new position in NIKE during the 3rd quarter valued at about $5,038,000. GFS Advisors LLC lifted its position in NIKE by 95,378.2% during the 3rd quarter. GFS Advisors LLC now owns 162,313 shares of the footwear maker’s stock valued at $14,348,000 after purchasing an additional 162,143 shares during the period. Finally, Fort Pitt Capital Group LLC increased its stake in shares of NIKE by 54.3% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 16,967 shares of the footwear maker’s stock valued at $1,500,000 after acquiring an additional 5,968 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. JPMorgan Chase & Co. lowered their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Bank of America lowered their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, UBS Group upped their price target on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Stock Up 1.2 %

Shares of NYSE NKE traded up $0.93 during trading hours on Friday, hitting $78.06. The company had a trading volume of 9,623,692 shares, compared to its average volume of 9,702,748. The stock has a market capitalization of $117.04 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 1.87 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm’s 50 day moving average is $82.12 and its 200-day moving average is $84.45.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Company 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.