Pines Wealth Management LLC Acquires 2,003 Shares of NIKE, Inc. (NYSE:NKE)

Pines Wealth Management LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 60.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,330 shares of the footwear maker’s stock after buying an additional 2,003 shares during the quarter. Pines Wealth Management LLC’s holdings in NIKE were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA raised its holdings in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. bought a new stake in shares of NIKE in the 4th quarter valued at about $30,000. Finally, EnRich Financial Partners LLC raised its holdings in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 273 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Williams Trading dropped their price objective on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company upped their price objective on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. Cfra Research upgraded NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Finally, Morgan Stanley dropped their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $80.26.

NIKE Stock Performance

NKE opened at $62.82 on Friday. The firm has a market cap of $92.92 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business’s fifty day moving average is $58.86 and its 200-day moving average is $69.19.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. Sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. NIKE’s dividend payout ratio is 53.16%.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by company insiders.

NIKE Profile

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.