Prentice Wealth Management LLC Purchases 325 Shares of NIKE, Inc. (NYSE:NKE)

Prentice Wealth Management LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 8.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,030 shares of the footwear maker’s stock after purchasing an additional 325 shares during the quarter. Prentice Wealth Management LLC’s holdings in NIKE were worth $445,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new position in shares of NIKE during the first quarter valued at about $27,000. Tucker Asset Management LLC acquired a new position in shares of NIKE during the first quarter valued at about $29,000. Financial Freedom LLC acquired a new position in shares of NIKE during the fourth quarter valued at about $29,000. Ruedi Wealth Management Inc. purchased a new stake in NIKE in the fourth quarter valued at approximately $30,000. Finally, Worth Asset Management LLC purchased a new stake in NIKE in the first quarter valued at approximately $32,000. 63.42% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the transaction, the chairman now directly owns 1,334,781 shares of the company’s stock, valued at $144,930,520.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the sale, the chairman now owns 1,334,781 shares in the company, valued at $144,930,520.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total value of $4,343,600.00. Following the completion of the sale, the executive vice president now owns 44,736 shares of the company’s stock, valued at approximately $4,857,882.24. The disclosure for this sale can be found here. Insiders sold 157,251 shares of company stock valued at $17,063,257 over the last three months. 0.50% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $97.19 on Friday. NIKE, Inc. has a one year low of $82.22 and a one year high of $131.31. The company has a market cap of $148.70 billion, a PE ratio of 30.09, a P/E/G ratio of 1.70 and a beta of 1.12. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.81 and a current ratio of 2.72. The business has a 50-day simple moving average of $105.02 and a 200-day simple moving average of $113.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.02). The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is 42.11%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus dropped their target price on NIKE from $143.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, August 28th. OTR Global lowered NIKE to a “positive” rating in a research report on Tuesday, June 20th. Royal Bank of Canada dropped their target price on NIKE from $138.00 to $134.00 and set an “outperform” rating on the stock in a research report on Friday, June 30th. JPMorgan Chase & Co. dropped their target price on NIKE from $152.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 28th. Finally, Robert W. Baird lowered their price objective on NIKE from $138.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, July 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $130.28.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.