Financial Advocates Investment Management Buys Shares of 56,445 Nike (NKE)

Financial Advocates Investment Management bought a new stake in shares of Nike (NYSE:NKE) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 56,445 shares of the footwear maker’s stock, valued at approximately $3,530,000.

A number of other large investors also recently made changes to their positions in NKE. YorkBridge Wealth Partners LLC boosted its holdings in shares of Nike by 0.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 26,169 shares of the footwear maker’s stock worth $1,535,000 after purchasing an additional 68 shares during the last quarter. Keel Point LLC boosted its holdings in shares of Nike by 1.2% during the second quarter. Keel Point LLC now owns 9,757 shares of the footwear maker’s stock worth $576,000 after purchasing an additional 119 shares during the last quarter. Security National Bank of Sioux City Iowa IA boosted its holdings in shares of Nike by 0.6% during the second quarter. Security National Bank of Sioux City Iowa IA now owns 43,462 shares of the footwear maker’s stock worth $2,564,000 after purchasing an additional 250 shares during the last quarter. Security National Bank of SO Dak boosted its holdings in shares of Nike by 0.9% during the second quarter. Security National Bank of SO Dak now owns 40,636 shares of the footwear maker’s stock worth $2,397,000 after purchasing an additional 365 shares during the last quarter. Finally, Simmons Bank boosted its holdings in shares of Nike by 1.9% during the second quarter. Simmons Bank now owns 19,939 shares of the footwear maker’s stock worth $1,177,000 after purchasing an additional 376 shares during the last quarter. Hedge funds and other institutional investors own 65.65% of the company’s stock.

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In other news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $70.00, for a total transaction of $9,450,000.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at $114,641,520. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric D. Sprunk sold 226,040 shares of Nike stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now directly owns 165,591 shares in the company, valued at $10,448,792.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 912,802 shares of company stock worth $58,993,107. Corporate insiders own 3.90% of the company’s stock.

NKE has been the topic of several analyst reports. Deutsche Bank set a $76.00 price objective on Nike and gave the stock a “buy” rating in a report on Thursday, December 14th. Argus upgraded Nike from a “hold” rating to a “buy” rating and raised their price objective for the stock from $50.35 to $64.46 in a report on Thursday, December 14th. DA Davidson set a $68.00 price objective on Nike and gave the stock a “buy” rating in a report on Thursday, December 14th. Stifel Nicolaus set a $74.00 price objective on Nike and gave the stock a “buy” rating in a report on Friday, December 15th. Finally, Guggenheim restated a “buy” rating and set a $70.00 price objective on shares of Nike in a report on Friday, December 15th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.07.

Shares of Nike (NYSE NKE) opened at $64.63 on Monday. Nike has a 52-week low of $50.35 and a 52-week high of $70.25. The stock has a market capitalization of $105,149.06, a PE ratio of 60.97, a PEG ratio of 2.93 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46.

Nike (NYSE:NKE) last announced its earnings results on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 31.81% and a net margin of 5.11%. The business had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the previous year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. research analysts predict that Nike will post 2.29 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 5th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, March 2nd. Nike’s payout ratio is 75.47%.

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Nike Company 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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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