NIKE, Inc. (NYSE:NKE) Holdings Raised by Prentice Wealth Management LLC

Prentice Wealth Management LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 8.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,450 shares of the footwear maker’s stock after buying an additional 352 shares during the quarter. Prentice Wealth Management LLC’s holdings in NIKE were worth $418,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC increased its stake in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE during the 4th quarter worth $29,000. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Core Wealth Advisors Inc. increased its stake in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of NIKE during the 4th quarter worth $33,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. Insiders have sold 213,660 shares of company stock valued at $19,946,333 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NKE. Citigroup lowered their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. StockNews.com lowered shares of NIKE from a “buy” rating to a “hold” rating in a research note on Friday, June 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Jefferies Financial Group lowered their target price on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.81.

NIKE Stock Down 0.5 %

NKE traded down $0.48 during trading hours on Wednesday, hitting $94.27. 5,334,910 shares of the company’s stock were exchanged, compared to its average volume of 9,155,584. NIKE, Inc. has a 1-year low of $88.66 and a 1-year high of $123.39. The stock’s 50-day moving average is $93.71 and its two-hundred day moving average is $99.52. The stock has a market cap of $142.29 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.80 and a beta of 1.05. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is currently 43.53%.

NIKE Company 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.