MN Wealth Advisors LLC Makes New $3.47 Million Investment in NIKE, Inc. $NKE

MN Wealth Advisors LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 54,434 shares of the footwear maker’s stock, valued at approximately $3,468,000. NIKE comprises 1.8% of MN Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Danske Bank A S lifted its stake in shares of NIKE by 7.0% during the 4th quarter. Danske Bank A S now owns 605,206 shares of the footwear maker’s stock worth $38,558,000 after purchasing an additional 39,463 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of NIKE by 17.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 84,632 shares of the footwear maker’s stock worth $5,392,000 after purchasing an additional 12,528 shares during the last quarter. Sigma Planning Corp lifted its stake in shares of NIKE by 102.1% during the 4th quarter. Sigma Planning Corp now owns 32,067 shares of the footwear maker’s stock worth $2,043,000 after purchasing an additional 16,202 shares during the last quarter. Activest Wealth Management lifted its stake in shares of NIKE by 27.4% during the 4th quarter. Activest Wealth Management now owns 810 shares of the footwear maker’s stock worth $52,000 after purchasing an additional 174 shares during the last quarter. Finally, Delta Investment Management LLC lifted its stake in shares of NIKE by 51.6% during the 4th quarter. Delta Investment Management LLC now owns 5,716 shares of the footwear maker’s stock worth $364,000 after purchasing an additional 1,945 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating on shares of NIKE in a research note on Monday, April 13th. UBS Group reduced their target price on NIKE from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Williams Trading reduced their target price on NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Stifel Nicolaus reduced their target price on NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Wednesday, April 1st. Finally, Weiss Ratings lowered NIKE from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 6th. Seventeen analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.34.

NIKE Stock Up 0.1%

Shares of NKE stock opened at $44.43 on Friday. The stock’s 50-day simple moving average is $51.39 and its 200-day simple moving average is $59.75. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a market capitalization of $65.79 billion, a PE ratio of 29.42, a P/E/G ratio of 2.35 and a beta of 1.31. NIKE, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. Equities analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were paid a $0.41 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. NIKE’s dividend payout ratio is presently 108.61%.

Insider Buying and Selling

In related news, CEO Elliott Hill bought 23,660 shares of the stock in a transaction dated Monday, April 13th. The shares were purchased at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the purchase, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy D. Cook bought 25,000 shares of the stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the purchase, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 64,441 shares of company stock worth $2,734,204 over the last ninety days. 0.80% of the stock is owned by corporate insiders.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).