Pinnacle Financial Partners Inc Has $25.57 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Pinnacle Financial Partners Inc increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 141.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 402,838 shares of the footwear maker's stock after purchasing an additional 235,727 shares during the period. Pinnacle Financial Partners Inc's holdings in NIKE were worth $25,572,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Elgethun Capital Management boosted its position in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after purchasing an additional 149 shares in the last quarter. AlTi Global Inc. lifted its stake in NIKE by 0.4% during the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares during the last quarter. Staley Capital Advisers Inc. lifted its stake in NIKE by 4.4% during the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker's stock valued at $286,000 after purchasing an additional 160 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in NIKE by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker's stock worth $240,000 after buying an additional 160 shares in the last quarter. Finally, Banco de Sabadell S.A grew its position in NIKE by 1.2% in the fourth quarter. Banco de Sabadell S.A now owns 15,966 shares of the footwear maker's stock worth $1,208,000 after buying an additional 188 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director owned 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 legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

NIKE Stock Down 0.1%

NYSE NKE traded down $0.11 during trading on Thursday, reaching $76.28. The company's stock had a trading volume of 12,022,568 shares, compared to its average volume of 15,372,369. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $112.83 billion, a PE ratio of 35.31, a PEG ratio of 2.76 and a beta of 1.25. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The business has a 50-day moving average price of $61.99 and a 200-day moving average price of $67.50.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 EPS. On average, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.10%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

Analysts Set New Price Targets

NKE has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a research report on Friday, June 27th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 price objective on shares of NIKE in a report on Friday, June 27th. Berenberg Bank began coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price for the company. BMO Capital Markets dropped their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Citigroup raised their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.19.

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.