NIKE, Inc. $NKE Stock Holdings Raised by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc increased its position in NIKE, Inc. (NYSE:NKE) by 761.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,174 shares of the footwear maker’s stock after purchasing an additional 24,903 shares during the period. Fragasso Financial Advisors Inc’s holdings in NIKE were worth $2,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKE. Mascoma Wealth Management LLC acquired a new position in NIKE in the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of NIKE in the 2nd quarter valued at about $31,000. Matrix Trust Co boosted its holdings in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after buying an additional 153 shares during the period. Finally, Saudi Central Bank bought a new stake in shares of NIKE during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $67.17 on Wednesday. The stock has a market cap of $99.28 billion, a P/E ratio of 34.44, a P/E/G ratio of 2.39 and a beta of 1.29. The firm’s 50-day simple moving average is $65.30 and its 200 day simple moving average is $69.47. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. NIKE’s revenue was up 1.0% compared to the same quarter last year. Equities analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.4%. NIKE’s dividend payout ratio is presently 84.10%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 16,150 shares of the business’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of $62.09 per share, for a total transaction of $1,002,753.50. Following the completion of the transaction, the director directly owned 21,388 shares of the company’s stock, valued at approximately $1,327,980.92. This trade represents a 308.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Friday, November 14th. The shares were sold at an average price of $64.80, for a total value of $5,577,854.40. Following the transaction, the chairman owned 647,615 shares in the company, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NKE shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $89.00 target price on shares of NIKE in a report on Monday. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. BTIG Research reiterated a “buy” rating and issued a $100.00 target price on shares of NIKE in a research note on Friday, December 12th. Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price target on shares of NIKE in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.24.

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.