Nike to slash 1400 jobs, cut sneaker styles in shakeup
- Author: Zachary Reyes Jun 16, 2017,
Jun 16, 2017, 1:11
Nike wants to be more nimble on its feet. 112 funds opened positions while 405 raised stakes.
The sweeping initiatives builds on the "Triple Double" program Nike first revealed during its third-quarter conference call on March 22. Emory University owns 87,560 shares or 2.17% of their USA portfolio. The stock is expected to report revenue as high as $8.96B and as low as $8.47B per share. Empirical Financial Services LLC boosted its stake in Nike by 0.8% in the third quarter. About 10.50M shares traded or 2.94% up from the average. Employees Retirement Association Of Colorado reported 1.67M shares or 0.68% of all its holdings. The share price has moved forward from its 20 days moving average 3.03% and positively from its 50 days moving average 5.53%. After $0.68 actual EPS reported by Nike Inc for the previous quarter, Wall Street now forecasts -27.94 % negative EPS growth.
For the fiscal fourth-quarter the firm estimates that fiscal 2018 EPS will be $2.35 (versus consensus of $2.53). Nike had a return on equity of 32.97% and a net margin of 12.02%. The business's revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that Nike, Inc. will post $2.41 EPS for the current year. Shareholders of record on Monday, June 5th will be paid a $0.18 dividend. About shares traded. VCA Inc (NASDAQ:WOOF) has risen 42.81% since June 15, 2016 and is uptrending. Nike's payout ratio is now 30.00%. Whittier Trust Of Nevada Inc stated it has 90,141 shares. Nike Inc. had 135 analyst reports since July 29, 2015 according to SRatingsIntel. "(NKE) Downgraded by Zacks Investment Research" was originally published by Stock Observer and is the property of of Stock Observer. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States and global copyright laws. Stock has got OUTPERFORM rating from 11 of Thomson Reuters analysts, 12 given HOLD rating to the stock and 1 given UNDERPERFORM rating.
A number of brokerages recently commented on NKE. Pnc Fincl Group holds 0% of its portfolio in WESCO International, Inc. A rating of 3 would represent a Hold recommendation. Crawford Counsel Inc owns 28,204 shares. Argus set a $55.00 price target on shares of Nike in a research report on Wednesday, April 5th. More interesting news about Nike Inc (NYSE:NKE) were released by: Investorplace.com and their article: "Why Nike Inc (NKE) Stock Is the Real Winner of the NBA Finals" published on June 14, 2017 as well as Seekingalpha.com's news article titled: "Nike Just Does It" with publication date: May 29, 2017. RSI may be used to identify overbought or oversold conditions. The shares were sold at an average price of $56.45, for a total transaction of $790,300.00. Allsquare Wealth Ltd Co owns 3,186 shares. PANGIA ROBERT W also sold $1.61M worth of Biogen Inc (NASDAQ:BIIB) shares. Following the completion of the transaction, the chairman now owns 1,966,235 shares in the company, valued at approximately $109,126,042.50. The disclosure for this purchase can be found here. The stock has "Hold" rating by Liberum Capital on Monday, October 3. 136,000 Nike Inc (NYSE:NKE) shares with value of $7.09 million were sold by Slusher John F. There will now be four geographies instead of six, each under one leader: North America; Europe, Middle East and Africa (EMEA); Greater China; and Asia Pacific and Latin America (APLA).
Boxes stacked shoes, Nike brand in a window of a shoe store.