Prestige Wealth Management Group LLC Has $735,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Prestige Wealth Management Group LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,660 shares of the footwear maker’s stock after selling 170 shares during the period. Prestige Wealth Management Group LLC’s holdings in NIKE were worth $735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Range Financial Group LLC acquired a new position in shares of NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the fourth quarter valued at about $9,987,000. Capricorn Fund Managers Ltd bought a new position in NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. grew its position in shares of 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 during the period. Finally, FNY Investment Advisers LLC increased its stake in shares of 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 acquiring an additional 8,504 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction 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 sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Stock Down 0.7 %

NKE stock opened at $67.45 on Tuesday. The business’s 50 day simple moving average is $74.61 and its 200 day simple moving average is $77.31. NIKE, Inc. has a 1-year low of $65.17 and a 1-year high of $98.04. The firm has a market capitalization of $99.76 billion, a PE ratio of 20.82, 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 released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating 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 firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced 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 2.37%. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NKE shares. Dbs Bank upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Guggenheim reissued a “buy” rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Evercore ISI dropped their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday. Finally, BMO Capital Markets dropped their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE 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.