Are Investors Jogging Shares Higher With Nike’s New Shoes?
For the year-to-date, Nike Inc.’s (NYSE:NKE) shares are up 14.8 percent. The company is finding success from its fashionable and technologically advanced running shoe, the $100 Free sneaker in “hot punch” or hot pink. Sales of these shoes year-over-year through March, jumped 14 percent to $6.46 billion according to NPD Group.
The first-quarter profit gains spurring retailer shares to rise including Foot Locker Inc. (NYSE:FL) and Dick’s Sporting Goods Inc. (NYSE:DKS). For Nike, in fiscal 2011, almost 14 percent of its $20.9 billion in global sales came from the running category, according to Bloomberg.
With Nike finding success with its running shoes, will its largest shareholders increase their positions? 632 institutional firms indicated owning shares of Nike Inc. (NYSE:NKE) in Q1 2012. These firms reported owning a total of 143.258 million shares on 03/31/2012 . The shares closed at $108.44 on 03/31/2012.
Here are the ten largest positions in Nike Inc. at the end of March 31st, 2012.
State Street Corp held 12,799,597 shares on 03/31/2012 worth $1,387,988,330.
Bank of New York Mellon Corp held 11,182,143 shares on 03/31/2012 worth $1,212,591,614.
Jennison Associates LLC held 9,413,524 shares on 03/31/2012 worth $1,020,802,566.
Blackrock Institutional Trust Company N.A. held 9,172,229 shares on 03/31/2012 worth $994,636,535.
Sands Capital Management LLC held 6,567,461 shares on 03/31/2012 worth $712,175,487.
Franklin Resources Inc held 4,240,076 shares on 03/31/2012 worth $459,793,852.
Massachusetts Financial Services Co /Ma/ held 4,222,414 shares on 03/31/2012 worth $457,878,584.
Ubs Global Asset Management Americas Inc held 4,216,613 shares on 03/31/2012 worth $457,249,524.
Eaton Vance Management held 4,161,335 shares on 03/31/2012 worth $451,255,178.
Blackrock Fund Advisors held 2,961,446 shares on 03/31/2012 worth $321,139,211.
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