McGinn Penninger Investment Management Inc. Reduces Stock Position in NIKE, Inc. $NKE

McGinn Penninger Investment Management Inc. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 26.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 71,940 shares of the footwear maker’s stock after selling 25,530 shares during the quarter. NIKE accounts for about 2.7% of McGinn Penninger Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding. McGinn Penninger Investment Management Inc.’s holdings in NIKE were worth $4,583,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Guerra Advisors Inc purchased a new stake in shares of NIKE during the 3rd quarter valued at approximately $34,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of NIKE during the 3rd quarter valued at approximately $35,000. Accredited Wealth Management LLC lifted its stake in shares of NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after buying an additional 376 shares in the last quarter. Strive Asset Management LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at approximately $40,000. Finally, Matrix Trust Co lifted its stake in shares of NIKE by 43.6% during the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after buying an additional 181 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NIKE stock opened at $44.85 on Wednesday. The firm’s fifty day moving average price is $46.22 and its 200-day moving average price is $57.04. 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 stock has a market cap of $66.42 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Elliott Hill bought 23,660 shares of NIKE stock in a transaction that occurred on Monday, April 13th. The shares were acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. The trade was a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 64,441 shares of company stock worth $2,734,204 in the last quarter. 0.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the company an “equal weight” rating in a research note on Friday, May 8th. China Renaissance lowered their target price on shares of NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. BNP Paribas Exane lowered their target price on shares of NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research note on Wednesday, April 1st. DA Davidson cut shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Finally, Weiss Ratings upgraded shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.04.

NIKE 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).