Btim Corp Decreased Stake in Nike INC (NYSE:NKE) by $7.90 Million as Shares Declined


Btim Corp decreased its stake in Nike Inc (NYSE:NKE) by 8.92% based on its latest 2016Q2 regulatory filing with the SEC. Btim Corp sold 129,493 shares as the company’s stock declined 0.08% while stock markets rallied. The institutional investor held 1.32 million shares of the consumer non-durables company at the end of 2016Q2, valued at $81.32M, down from 1.45 million at the end of the previous reported quarter. Btim Corp who had been investing in Nike Inc for a number of months, seems to be less bullish one the $94.05 billion market cap company. The stock is down 0.04% or $0.02 after the negative news, hitting $55.35 per share. About 7.30 million shares traded hands. Nike Inc (NYSE:NKE) has risen 1.76% since February 8, 2016 and is uptrending. It has underperformed by 14.73% the S&P500.

Btim Corp, which manages about $5.74B US Long portfolio, upped its stake in Nordstrom Inc (NYSE:JWN) by 119,757 shares to 528,177 shares, valued at $30.22M in 2016Q2, according to the filing. It also increased its holding in Autozone Inc (NYSE:AZO) by 5,399 shares in the quarter, for a total of 7,099 shares, and has risen its stake in Big Lots Inc (NYSE:BIG).

The institutional sentiment decreased to 0.87 in 2016 Q2. Its down 0.23, from 1.1 in 2016Q1. The ratio dropped, as 116 funds sold all NKE shares owned while 470 reduced positions. 98 funds bought stakes while 413 increased positions. They now own 1.02 billion shares or 2.98% less from 1.05 billion shares in 2016Q1.

Baker Boyer National Bank holds 5.82% of its portfolio in NKE for 23,060 shares. Csat Investment Advisory L.P. owns 47,140 shares or 5.47% of their US portfolio. Moreover, Ems Capital Lp has 5.18% invested in the company for 900,000 shares. The Massachusetts-based Eagleclaw Capital Managment Llc has invested 4.89% in the stock. Jacobson & Schmitt Advisors Llc, a Wisconsin-based fund reported 101,212 shares.

Out of 30 analysts covering NIKE (NYSE:NKE), 22 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 73% are positive. NIKE has been the topic of 76 analyst reports since September 16, 2015 according to StockzIntelligence Inc. Piper Jaffray downgraded the stock on September 8 to “Neutral” rating.

NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company has a market cap of $94.05 billion. The Company’s operating divisions include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. It has a 25.66 P/E ratio. The Company’s portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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