Prestige Wealth Management Group LLC Sells 170 Shares of NIKE, Inc. (NYSE:NKE)

Prestige Wealth Management Group LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $28,000. Caitlin John LLC boosted its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the third quarter valued at about $30,000. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth about $30,000. Finally, LFA Lugano Financial Advisors SA lifted its holdings in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research analyst reports. Bank of America lowered 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 dropped their price target on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. DA Davidson upgraded NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Robert W. Baird reduced their price target on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Down 0.7 %

Shares of NYSE NKE opened at $67.45 on Tuesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market cap of $99.76 billion, a PE ratio of 20.82, a P/E/G ratio of 2.52 and a beta of 1.02. The company’s fifty day simple moving average is $74.61 and its 200 day simple moving average is $77.31. NIKE, Inc. has a 12-month low of $65.17 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.37%. NIKE’s dividend payout ratio is 53.16%.

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.