Parr Mcknight Wealth Management Group LLC Invests $2.47 Million in NIKE, Inc. (NYSE:NKE)

Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 32,585 shares of the footwear maker's stock, valued at approximately $2,466,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the period. Geode Capital Management LLC boosted its holdings in NIKE by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors grew its position in NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the period. Bank of New York Mellon Corp raised its stake in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after buying an additional 3,121,929 shares during the last quarter. Finally, Norges Bank bought a new position in shares of NIKE during the 4th quarter valued at $1,126,288,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NKE stock opened at $61.30 on Friday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $60.15 and a two-hundred day simple moving average of $70.31. The stock has a market capitalization of $90.67 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the prior year, the business earned $0.98 EPS. The firm's quarterly revenue was down 9.1% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NKE shares. Telsey Advisory Group dropped their price objective on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group upgraded NIKE from a "hold" rating to a "buy" rating and boosted their price objective for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Bank of America dropped their price target on shares of NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Berenberg Bank initiated coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. Finally, Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $80.26.

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.

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