Fragasso Group Inc. boosted its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,642 shares of the footwear maker’s stock after buying an additional 117 shares during the quarter. Fragasso Group Inc.’s holdings in NIKE were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of NKE. America First Investment Advisors LLC purchased a new position in NIKE during the first quarter worth $27,000. Tucker Asset Management LLC purchased a new position in NIKE during the first quarter worth $29,000. Financial Freedom LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $29,000. Ruedi Wealth Management Inc. purchased a new stake in shares of NIKE during the fourth quarter valued at $30,000. Finally, Worth Asset Management LLC purchased a new stake in shares of NIKE during the first quarter valued at $32,000. 63.42% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $135.00 target price on shares of NIKE in a research note on Friday, June 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $133.00 to $126.00 in a research note on Friday, June 23rd. Barclays lowered their target price on shares of NIKE from $127.00 to $124.00 in a research note on Friday, June 30th. BNP Paribas downgraded NIKE from a “neutral” rating to an “underperform” rating in a report on Tuesday, July 25th. Finally, Bank of America decreased their price objective on NIKE from $135.00 to $125.00 in a report on Friday, June 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $130.28.
NIKE Price Performance
Shares of NYSE NKE opened at $96.26 on Friday. The business’s 50 day moving average price is $104.86 and its 200 day moving average price is $112.91. NIKE, Inc. has a 52 week low of $82.22 and a 52 week high of $131.31. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The firm has a market cap of $147.27 billion, a P/E ratio of 29.80, a P/E/G ratio of 1.72 and a beta of 1.12.
NIKE (NYSE:NKE – Get Free Report) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.02). NIKE had a net margin of 9.90% and a return on equity of 34.01%. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.58 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that NIKE, Inc. will post 3.71 earnings per share for the current year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 42.11%.
Insiders Place Their Bets
In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction 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 directly owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $108.58, for a total transaction of $11,943,800.00. Following the completion of the transaction, the chairman now directly owns 1,334,781 shares in the company, valued at approximately $144,930,520.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 40,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total value of $4,343,600.00. Following the transaction, the executive vice president now owns 44,736 shares of the company’s stock, valued at $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 in the last three months. 0.50% of the stock is currently owned by insiders.
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.
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