Wesbanco Bank Inc. Has $8.52 Million Position in NIKE, Inc. $NKE

Wesbanco Bank Inc. increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 16.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,889 shares of the footwear maker’s stock after acquiring an additional 16,688 shares during the period. Wesbanco Bank Inc.’s holdings in NIKE were worth $8,517,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in NKE. Stone House Investment Management LLC acquired a new stake in shares of NIKE during the 1st quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $28,000. Saudi Central Bank acquired a new stake in shares of NIKE during the 1st quarter valued at about $30,000. Roxbury Financial LLC boosted its position in shares of NIKE by 52.1% during the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock valued at $37,000 after acquiring an additional 201 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of NIKE during the 1st quarter valued at about $37,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NKE. Jefferies Financial Group reiterated a “buy” rating and set a $115.00 target price on shares of NIKE in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. The Goldman Sachs Group boosted their price target on shares of NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, June 27th. HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Friday, June 27th. Finally, TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $62.00 to $85.00 in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.67.

NIKE Trading Down 1.6%

Shares of NYSE NKE opened at $73.12 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a market cap of $107.98 billion, a PE ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $75.40 and a two-hundred day moving average of $67.72.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. As a group, equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s payout ratio is currently 74.07%.

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.