Pinnacle Financial Partners Inc Has $12.65 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Pinnacle Financial Partners Inc grew its position in NIKE, Inc. (NYSE:NKEFree Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,111 shares of the footwear maker’s stock after purchasing an additional 478 shares during the period. Pinnacle Financial Partners Inc’s holdings in NIKE were worth $12,645,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Redmond Asset Management LLC acquired a new stake in NIKE in the fourth quarter worth $481,000. Deseret Mutual Benefit Administrators raised its holdings in NIKE by 8.6% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 3,590 shares of the footwear maker’s stock worth $272,000 after purchasing an additional 283 shares during the period. Kennon Green & Company LLC raised its holdings in NIKE by 0.8% in the fourth quarter. Kennon Green & Company LLC now owns 24,323 shares of the footwear maker’s stock worth $1,841,000 after purchasing an additional 196 shares during the period. Peregrine Asset Advisers Inc. raised its holdings in shares of NIKE by 2.4% during the fourth quarter. Peregrine Asset Advisers Inc. now owns 14,938 shares of the footwear maker’s stock worth $1,130,000 after acquiring an additional 348 shares during the period. Finally, Blackston Financial Advisory Group LLC raised its holdings in shares of NIKE by 11.7% during the fourth quarter. Blackston Financial Advisory Group LLC now owns 3,497 shares of the footwear maker’s stock worth $265,000 after acquiring an additional 365 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NKE stock opened at $76.50 on Friday. The company has a 50 day simple moving average of $74.31 and a 200 day simple moving average of $78.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The stock has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was down 7.7% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE’s payout ratio is presently 49.38%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade 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 owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Bank of America decreased their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday, February 7th. BMO Capital Markets lifted their target price on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, February 3rd. Finally, Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Check Out Our Latest Stock Report on NIKE

About NIKE

(Free Report)

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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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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