Wagner Wealth Management LLC Buys Shares of 1,609 Nike (NKE)

Wagner Wealth Management LLC bought a new position in Nike (NYSE:NKE) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,609 shares of the footwear maker’s stock, valued at approximately $103,000.

A number of other hedge funds have also recently made changes to their positions in NKE. Field & Main Bank purchased a new stake in Nike during the 4th quarter valued at about $100,000. G&S Capital LLC purchased a new stake in Nike during the 4th quarter valued at about $112,000. Willingdon Wealth Management purchased a new stake in Nike during the 3rd quarter valued at about $114,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Nike during the 4th quarter valued at about $116,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Nike during the 4th quarter valued at about $128,000. 65.67% of the stock is currently owned by institutional investors.

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In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $114,641,520. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric D. Sprunk sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the sale, the insider now owns 227,199 shares in the company, valued at approximately $15,372,284.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 460,722 shares of company stock worth $30,466,859. 3.90% of the stock is owned by company insiders.

Several brokerages recently commented on NKE. Oppenheimer raised shares of Nike to a “buy” rating in a research report on Wednesday, January 31st. Stifel Nicolaus increased their price objective on shares of Nike from $74.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Citigroup reissued a “buy” rating and set a $78.00 price objective (up from $74.00) on shares of Nike in a research report on Wednesday, January 31st. Zacks Investment Research downgraded shares of Nike from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Finally, Buckingham Research increased their price objective on shares of Nike from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $68.55.

NYSE NKE opened at $66.44 on Friday. Nike has a 12 month low of $50.35 and a 12 month high of $70.25. The company has a market cap of $108,093.83, a price-to-earnings ratio of 26.47, a PEG ratio of 2.82 and a beta of 0.68. The company has a current ratio of 2.66, a quick ratio of 1.73 and a debt-to-equity ratio of 0.35.

Nike (NYSE:NKE) last released its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The company had revenue of $8.98 billion for the quarter, compared to analysts’ expectations of $8.85 billion. During the same quarter last year, the business earned $0.68 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. analysts expect that Nike will post 2.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 5th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Friday, March 2nd. Nike’s payout ratio is 31.87%.

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Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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