Bridger Management LLC Acquires Shares of 119,165 NIKE, Inc. $NKE

Bridger Management LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 119,165 shares of the footwear maker’s stock, valued at approximately $8,465,000. NIKE makes up approximately 5.0% of Bridger Management LLC’s portfolio, making the stock its 7th biggest position.

A number of other large investors also recently modified their holdings of NKE. Vanguard Group Inc. increased its stake in NIKE by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 113,823,785 shares of the footwear maker’s stock valued at $8,086,042,000 after purchasing an additional 672,705 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Flossbach Von Storch SE increased its position in shares of NIKE by 9.5% during the second quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock worth $800,293,000 after acquiring an additional 978,771 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NIKE by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock worth $603,445,000 after acquiring an additional 301,497 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Performance

NYSE NKE opened at $62.92 on Tuesday. The company has a market capitalization of $93.01 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44. The company has a 50-day simple moving average of $68.27 and a 200 day simple moving average of $68.86.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the firm earned $0.70 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Barclays set a $70.00 target price on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Sanford C. Bernstein reaffirmed a “buy” rating and set a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $82.24.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 16,150 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.80% of the company’s stock.

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.