NIKE, Inc. (NYSE:NKE) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC grew its position in NIKE, Inc. (NYSE:NKE) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,909 shares of the footwear maker’s stock after buying an additional 1,794 shares during the quarter. Modern Wealth Management LLC’s holdings in NIKE were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Range Financial Group LLC acquired a new position in NIKE in the 4th quarter valued at about $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in NIKE during the 4th quarter worth approximately $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in NIKE by 31.1% during the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after buying an additional 6,124 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its position in NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after buying an additional 8,504 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Wells Fargo & Company lowered their price objective on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $115.00 in a report on Monday, February 24th. Finally, Bank of America lowered their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Down 1.1 %

NIKE stock opened at $66.64 on Wednesday. The stock has a 50 day moving average of $74.52 and a two-hundred day moving average of $77.21. NIKE, Inc. has a twelve month low of $65.17 and a twelve month high of $98.04. The stock has a market capitalization of $98.57 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.40%. NIKE’s dividend payout ratio (DPR) is 53.16%.

About NIKE

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.