MN Wealth Advisors LLC Invests $3.47 Million in NIKE, Inc. $NKE

Key Points

• MN Wealth Advisors bought a new stake of 54,434 NIKE shares worth about $3.47 million in Q4, making NKE roughly 1.8% of the firm's portfolio and its 13th-largest holding.
• Insiders have been buying recently — Director Robert Holmes Swan acquired 11,781 shares and Director Timothy D. Cook bought 25,000 shares in April, with insiders totaling 64,441 shares (~$2.73M) bought in the last 90 days (insiders own 0.80% of the stock).
• Analysts and fundamentals are mixed: the consensus rating is a "Hold" with an average price target of $62.34; NIKE beat quarterly EPS estimates ($0.35 vs. $0.29), pays a $0.41 quarterly dividend (3.7% yield), and its shares are trading near their one-year low (~$42) with a market cap around $65.8B.

MN Wealth Advisors LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 54,434 shares of the footwear maker's stock, valued at approximately $3,468,000. NIKE accounts for approximately 1.8% of MN Wealth Advisors LLC's investment portfolio, making the stock its 13th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Danske Bank A S raised its stake in NIKE by 7.0% during the 4th quarter. Danske Bank A S now owns 605,206 shares of the footwear maker's stock valued at $38,558,000 after purchasing an additional 39,463 shares during the period. Oppenheimer & Co. Inc. raised its stake in NIKE by 17.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 84,632 shares of the footwear maker's stock valued at $5,392,000 after purchasing an additional 12,528 shares during the period. Sigma Planning Corp raised its stake in NIKE by 102.1% during the 4th quarter. Sigma Planning Corp now owns 32,067 shares of the footwear maker's stock valued at $2,043,000 after purchasing an additional 16,202 shares during the period. Activest Wealth Management increased its stake in NIKE by 27.4% in the 4th quarter. Activest Wealth Management now owns 810 shares of the footwear maker's stock worth $52,000 after acquiring an additional 174 shares during the last quarter. Finally, Delta Investment Management LLC increased its stake in NIKE by 51.6% in the 4th quarter. Delta Investment Management LLC now owns 5,716 shares of the footwear maker's stock worth $364,000 after acquiring an additional 1,945 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan acquired 11,781 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the acquisition, the director directly owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy D. Cook acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 64,441 shares of company stock worth $2,734,204 in the last 90 days. 0.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of NIKE in a research note on Monday, April 13th. CICC Research downgraded NIKE from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $69.00 to $58.00 in a research note on Monday, April 6th. DZ Bank reaffirmed a "buy" rating on shares of NIKE in a research note on Tuesday, April 21st. Barclays reduced their price objective on NIKE from $73.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Finally, Sanford C. Bernstein reaffirmed a "buy" rating on shares of NIKE in a research note on Friday, April 24th. Seventeen research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, NIKE has an average rating of "Hold" and an average price target of $62.34.

NIKE Price Performance

Shares of NIKE stock opened at $44.43 on Friday. The stock has a 50 day moving average price of $51.39 and a 200-day moving average price of $59.75. NIKE, Inc. has a one year low of $42.09 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The stock has a market cap of $65.79 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 2.35 and a beta of 1.31.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter in the previous year, the business earned $0.54 EPS. NIKE's revenue was up .1% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were issued a dividend of $0.41 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE's payout ratio is presently 108.61%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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