Stocks
GUARDCAP ASSET MANAGEMENT Cuts Nike Holdings by 16.6%
Nike Inc.'s (NYSE:NKE) stock remains a significant holding for GUARDCAP ASSET MANAGEMENT Ltd, which recently disclosed that it now owns 1,438,583 shares of the footwear maker's stock. This represents about 4.3% of GUARDCAP ASSET MANAGEMENT Ltd's portfolio and makes Nike its 12th largest holding.
The institutional investor owned a total of $60.45 million in Nike's stock after selling 285,411 shares during the second quarter. This marks a decrease of 16.6% from the previous period.
GUARDCAP ASSET MANAGEMENT Ltd is not alone in its investment in Nike. Several other institutional investors have also recently made changes to their positions in NKE, including Vanguard Group Inc., which lifted its stake by 1.5% in the fourth quarter.