Prentice Wealth Management LLC Grows Position in NIKE, Inc. (NYSE:NKE)

Prentice Wealth Management LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,450 shares of the footwear maker’s stock after purchasing an additional 352 shares during the quarter. Prentice Wealth Management LLC’s holdings in NIKE were worth $418,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NKE. Thompson Investment Management Inc. lifted its stake in NIKE by 52.0% in the first quarter. Thompson Investment Management Inc. now owns 833 shares of the footwear maker’s stock worth $78,000 after acquiring an additional 285 shares during the period. Etesian Wealth Advisors Inc. lifted its stake in NIKE by 1.2% in the first quarter. Etesian Wealth Advisors Inc. now owns 14,627 shares of the footwear maker’s stock worth $1,375,000 after acquiring an additional 170 shares during the period. DLK Investment Management LLC lifted its stake in NIKE by 4.2% in the first quarter. DLK Investment Management LLC now owns 31,699 shares of the footwear maker’s stock worth $2,979,000 after acquiring an additional 1,277 shares during the period. Beech Hill Advisors Inc. purchased a new stake in NIKE in the first quarter worth $1,827,000. Finally, Northwest Quadrant Wealth Management LLC lifted its stake in NIKE by 33.4% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 4,064 shares of the footwear maker’s stock worth $382,000 after acquiring an additional 1,018 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company dropped their price target on NIKE from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, June 10th. Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a report on Tuesday, April 30th. Jefferies Financial Group decreased their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $114.81.

NIKE Stock Performance

Shares of NKE stock traded down $0.48 during trading hours on Wednesday, reaching $94.27. 5,334,910 shares of the company traded hands, compared to its average volume of 9,155,584. The firm has a 50-day moving average price of $93.71 and a 200 day moving average price of $99.52. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $123.39. The company has a market cap of $142.29 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.80 and a beta of 1.05.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. NIKE’s dividend payout ratio is presently 43.53%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

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.