3M Company (MMM) Holder Carret Asset Management Lowered Stake by $531,100 as Valuation Declined; Kings Point Capital Management Upped Nike (NKE) Holding

April 26, 2018 - By Adrian Erickson

NIKE, Inc. (NYSE:NKE) Logo

Kings Point Capital Management increased its stake in Nike Inc (NKE) by 6387.55% based on its latest 2017Q4 regulatory filing with the SEC. Kings Point Capital Management bought 29,766 shares as the company’s stock rose 4.55% while stock markets declined. The institutional investor held 30,232 shares of the consumer non-durables company at the end of 2017Q4, valued at $1.89 million, up from 466 at the end of the previous reported quarter. Kings Point Capital Management who had been investing in Nike Inc for a number of months, seems to be bullish on the $110.02B market cap company. The stock increased 2.38% or $1.59 during the last trading session, reaching $68.26. About 3.11M shares traded. NIKE, Inc. (NYSE:NKE) has risen 18.31% since April 26, 2017 and is uptrending. It has outperformed by 6.76% the S&P500.

Carret Asset Management Llc decreased its stake in 3M Company (MMM) by 9.87% based on its latest 2017Q4 regulatory filing with the SEC. Carret Asset Management Llc sold 2,260 shares as the company’s stock declined 8.03% with the market. The institutional investor held 20,642 shares of the medical and dental instruments company at the end of 2017Q4, valued at $4.86M, down from 22,902 at the end of the previous reported quarter. Carret Asset Management Llc who had been investing in 3M Company for a number of months, seems to be less bullish one the $117.91 billion market cap company. The stock decreased 0.29% or $0.58 during the last trading session, reaching $198.26. About 2.40 million shares traded. 3M Company (NYSE:MMM) has risen 13.36% since April 26, 2017 and is uptrending. It has outperformed by 1.81% the S&P500.

Since October 27, 2017, it had 0 insider buys, and 17 selling transactions for $31.08 million activity. Another trade for 4,146 shares valued at $1.02 million was made by Roman Michael F on Friday, February 2. $547,377 worth of stock was sold by Fong Ivan K on Friday, October 27. $92,023 worth of stock was sold by Lindekugel Jon T on Tuesday, October 31. Gangestad Nicholas C had sold 1,681 shares worth $419,846 on Thursday, February 1. Shin Hak Cheol also sold $2.00M worth of 3M Company (NYSE:MMM) on Thursday, February 1. Bauman James L also sold $2.19M worth of 3M Company (NYSE:MMM) on Friday, February 2.

Among 17 analysts covering 3M (NYSE:MMM), 8 have Buy rating, 4 Sell and 5 Hold. Therefore 47% are positive. 3M had 89 analyst reports since July 24, 2015 according to SRatingsIntel. Credit Suisse maintained the shares of MMM in report on Friday, April 28 with “Buy” rating. RBC Capital Markets maintained the stock with “Underperform” rating in Friday, October 23 report. The stock of 3M Company (NYSE:MMM) earned “Underweight” rating by Barclays Capital on Monday, March 26. The firm earned “Hold” rating on Thursday, January 25 by RBC Capital Markets. The company was maintained on Wednesday, March 30 by UBS. RBC Capital Markets maintained the stock with “Hold” rating in Wednesday, October 25 report. Stifel Nicolaus maintained 3M Company (NYSE:MMM) rating on Wednesday, April 26. Stifel Nicolaus has “Hold” rating and $202 target. Credit Suisse maintained the shares of MMM in report on Wednesday, October 11 with “Buy” rating. As per Wednesday, March 30, the company rating was maintained by Bernstein. Credit Suisse maintained the shares of MMM in report on Wednesday, October 25 with “Outperform” rating.

Investors sentiment increased to 0.83 in 2017 Q4. Its up 0.06, from 0.77 in 2017Q3. It increased, as 47 investors sold MMM shares while 635 reduced holdings. 147 funds opened positions while 416 raised stakes. 383.04 million shares or 1.04% less from 387.06 million shares in 2017Q3 were reported. State Farm Mutual Automobile Ins Co reported 3.29% stake. Amica Mutual Insurance Company accumulated 0.56% or 24,184 shares. Metropolitan Life Insurance Com Ny holds 0.37% or 116,926 shares in its portfolio. 2,310 are owned by Partnervest Advisory Services Ltd. Washington Tru Company accumulated 56,783 shares or 0.75% of the stock. Allen Invest Lc has 21,000 shares. 15,315 were reported by Wheatland Advsr. Bangor Bankshares has 1,851 shares. Of Oklahoma, a Oklahoma-based fund reported 8,122 shares. 15,322 were accumulated by Trexquant Invest Limited Partnership. Eagle Ridge Invest owns 48,249 shares. Amalgamated Commercial Bank reported 76,945 shares. Bragg Finance Advsrs holds 19,488 shares. Piedmont Inv Advsr Ltd Liability Co has 125,881 shares. Virtu Limited Company holds 19,961 shares or 0.25% of its portfolio.

Among 44 analysts covering Nike Inc. (NYSE:NKE), 25 have Buy rating, 2 Sell and 17 Hold. Therefore 57% are positive. Nike Inc. had 233 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was maintained by FBR Capital on Thursday, March 23 with “Market Perform”. Telsey Advisory Group maintained NIKE, Inc. (NYSE:NKE) on Monday, November 2 with “Outperform” rating. Cowen & Co maintained the shares of NKE in report on Wednesday, January 31 with “Hold” rating. The firm has “Hold” rating by Jefferies given on Wednesday, September 27. Telsey Advisory Group maintained the stock with “Outperform” rating in Wednesday, December 21 report. As per Monday, June 19, the company rating was maintained by Barclays Capital. Wells Fargo maintained the shares of NKE in report on Tuesday, September 19 with “Market Perform” rating. Guggenheim maintained the stock with “Buy” rating in Friday, July 21 report. The firm has “Buy” rating given on Wednesday, September 28 by Goldman Sachs. The firm has “Overweight” rating given on Wednesday, September 28 by JP Morgan.

Since December 11, 2017, it had 0 insider purchases, and 8 selling transactions for $45.81 million activity. Slusher John F also sold $7.94M worth of NIKE, Inc. (NYSE:NKE) shares. On Monday, December 11 the insider Matheson Monique S. sold $620,000. EDWARDS TREVOR A sold 100,000 shares worth $6.85 million. Shares for $6.77M were sold by SPRUNK ERIC D on Monday, January 29.

Kings Point Capital Management, which manages about $475.92M US Long portfolio, decreased its stake in Pimco Etf Tr Enhanced Sho (MINT) by 4,162 shares to 38,225 shares, valued at $3.88M in 2017Q4, according to the filing. It also reduced its holding in Alps Etf Tr Alerian Mlp E (AMLP) by 50,585 shares in the quarter, leaving it with 223,203 shares, and cut its stake in Unilever N V N Y (NYSE:UN).

3M Company (NYSE:MMM) Institutional Positions Chart

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