Nike Inc Q1 Earnings Decline 24%

As Caterpillar Del (CAT) Stock Price Rose, Holder Weatherly Asset Management Lowered Its Holding; Nike (Call) (NKE) Shares Declined While Hoplite Capital Management LP Cut by $74.35 Million Its Stake

Klingenstein Fields And Lc has 0.22% invested in Nike Inc (NYSE:NKE). (NYSE:NKE) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The stock of Nike Inc (NYSE:NKE) has "Buy" rating given on Wednesday, April 19 by Goldman Sachs. Waldron LP boosted its holdings in Nike by 90.8% in the 1st quarter. Insider ownership during the latest quarter decreased by a net of 401623 shares, indicating that NKE's key executives are feeling more bearish about the stock than they did three months ago. Wellington Shields Capital Management Ltd Co stated it has 0.37% of its portfolio in Nike Inc (NYSE:NKE).

Nike still gets about 70 percent of its revenue from retail customers but has been investing heavily in e-commerce, partnering with Inc AMZN.O and offering heavy discounts on its own website. Pioneer Investment Management Inc. now owns 3,157,306 shares of the footwear maker's stock valued at $175,956,000 after purchasing an additional 1,642,177 shares in the last quarter. The Vigilant Capital Management Llc holds 179,183 shares with $10.57M value, up from 157,939 last quarter. Bartlett & Co. LLC now owns 286,515 shares of the footwear maker's stock valued at $15,967,000 after acquiring an additional 41,976 shares during the period.

"This quarter, we captured near-term opportunities through our new consumer direct offense", Nike chairman, president and chief executive Mark Parker said in a statement. The stock has an average rating of "Hold" and a consensus target price of $60.04. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker's stock valued at $2,781,332,000 after purchasing an additional 2,375,447 shares in the last quarter. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Andrew Campion sold 5,722 shares of the business's stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. The institutional investor owned 120,892 shares of the footwear maker's stock after purchasing an additional 3,203 shares during the period. The disclosure for this sale can be found here.

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Susquehanna analyst Sam Poser was the most bearish on the stock after the results, cutting his price target by $7 to $47. Morgan Stanley restated an "equal weight" rating and set a $56.00 price objective on shares of Nike in a research report on Wednesday, June 21st. UBS AG reiterated a "buy" rating and set a $62.00 price target (down from $63.00) on shares of Nike in a report on Tuesday, June 27th. Jacobson & Schmitt Advisors Llc bought 8,067 shares as the company's stock declined 8.78% while stock markets rallied. The stock is now moving above its 20-Day Simple Moving Average of 1.02% with a 50-Day Simple Moving Average of -4.21 percent. Leavell Mgmt has invested 0.62% of its portfolio in Nike Inc (NYSE:NKE). About 6.05 million shares traded. The stock has a 50 day moving average of $55.57 and a 200 day moving average of $55.39. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.63 billion.

The company is now investing to accelerate its supply chain while making more frequent tweaks to products - updating colours, prints and materials. This represents an increase of approximately 132% compared to the typical volume of 6,391 put options.

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Nike Inc. ( NKE ), a major sports apparel company, said fiscal first-quarter revenues for the three months ended August 31 remained flat from the corresponding period past year.

In terms of earnings per share, 32 analysts have a 0.53 EPS mean target for the quarter ending Feb-17, for the quarter ending May-17, 30 analysts have a 0.50 EPS mean target and for the quarter ending May-17 there are 35 estimates of 2.41 EPS. The return on assets stands at 18.8%, Return on Equity now is 34.2% and the Return on Investment value is 25.3%. Because selling directly to consumers was becoming a bigger portion of its revenue - last financial year it reached 28% - so-called "futures" were no longer an accurate portrayal of its business, the company said. During the same quarter previous year, the firm earned $0.73 EPS.

However, Nike said it banked on worldwide sales to meet its mid single-digit revenue growth target for the year.

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Nike (NKE), the world's largest apparel company and America's leading sportswear brand, faced analyst downgrades and target price revisions in September as Adidas (ADDYY) officially acquired the number-two spot in the American sportswear market.


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