Published: Sat, June 17, 2017
Sport | By Billy Aguilar

Nike to slash 1400 jobs, cut sneaker styles in shakeup

Nike to slash 1400 jobs, cut sneaker styles in shakeup

About 8,855 shares traded.

Nike, Inc. (NYSE:NKE)'s stock had its "buy" rating reissued by investment analysts at Instinet in a research note issued to investors on Monday, May 15th. It has underperformed by 25.94% the S&P500. The company has market cap of $1.29 billion. About shares traded. Symantec Corporation (NASDAQ:SYMC) has risen 71.82% since June 15, 2016 and is uptrending. It has outperformed by 26.11% the S&P500. OLD National Bancorp IN's holdings in Nike were worth $1,620,000 at the end of the most recent quarter. "Makes Most of Its Money" on June 08, 2017. New York-based D E Shaw Inc has invested 0.01% in Nike Inc (NYSE:NKE). On average, equities analysts expect that Nike, Inc. will post $2.41 EPS for the current fiscal year. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have issued a buy rating to the company. Therefore 62% are positive. Citigroup initiated the stock with "Buy" rating in Thursday, February 25 report. The rating was maintained by UBS on Wednesday, June 29 with "Buy". Stifel analysts stated on 22/03/2017 that they maintained their Buy rating. The firm has "Overweight" rating by JP Morgan given on Monday, March 21. The stock has "Hold" rating by Brean Capital on Wednesday, September 28. NKE's profit will be $815.90M for 27.30 P/E if the $0.49 EPS becomes a reality. After $0.68 actual EPS reported by Nike Inc for the previous quarter, Wall Street now forecasts -27.94 % negative EPS growth.

Since January 3, 2017, it had 1 insider buy, and 9 insider sales for $48.27 million activity.

Shares of Nike's stock were falling more than 2 percent Thursday morning following this announcement.

Nike earned a news sentiment score of 0.09 on AlphaOne's scale. Its up 0.19, from 0.81 in 2016Q3.

A number of other hedge funds have also recently made changes to their positions in NKE. Its up 0.49% from 5.00 million shares previously. (NYSE:NKE) by 7.3% during the first quarter, Holdings Channel reports. Wetherby Asset Mgmt has invested 0.31% in Nike Inc (NYSE:NKE). Ameriprise Financial holds 0.3% or 10.96M shares. First National Bank & Trust Na has 72,278 shares for 0.72% of their portfolio.

Old Second National Bank Of Aurora decreased Biogen Idec Inc (BIIB) stake by 17.91% reported in 2016Q4 SEC filing. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), 32,784 calls have been bought to open on NKE stock, versus 14,000 puts - with the resultant call/put volume ratio of 2.34 docked higher than 87% of all comparable readings taken in the past year. Moreover, Wms Partners Llc has 0.52% invested in the company for 694,800 shares. 4,100 are held by Gilman Hill Asset Llc. Company's distance from 20 day simple moving average is 3.75% and distance from 50-Day simple moving average is 0.98%.

The consensus recommendation - averaging the work of 36 analysts - of 2.2 for NIKE, Inc. Its down 0.15, from 0.97 in 2016Q3.

Institutional investors have recently added to or reduced their stakes in the company. It is 0.00% or $0 reaching $0.02 per share. Sequoia Advsr Ltd Company holds 171,394 shares. Altfest L J invested in 3,964 shares. Following the sale, the director now owns 55,660 shares in the company, valued at $3,142,007. (NASDAQ:BIIB), 12 have Buy rating, 0 Sell and 8 Hold. Stonebridge Ltd Liability Com holds 65,575 shares or 0.99% of its portfolio. State Common Retirement Fund has 54,600 shares. PANGIA ROBERT W also sold $1.61M worth of Biogen Inc (NASDAQ:BIIB) shares. Gmt Capital owns 194,774 shares. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.36%. Nike faces a resurgent Adidas, which has regained its cachet in the USA, along with the expansion of Under Armour into new athletic-gear categories.

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